AD Ports Group has moved to deepen its presence in Egypt’s container sector with the acquisition of Saudi Egyptian Investment Company’s (SEIC) entire 19.3% stake in Alexandria Container & Cargo Handling Company (ALCN) in a deal valued at around $278m.

The transaction marks another step in AD Ports’ wider expansion strategy in the eastern Mediterranean as the Abu Dhabi-based ports and logistics group continues to build scale along the main east–west trade corridor. ALCN is one of Egypt’s biggest terminal operators, running facilities at Alexandria and El-Dekheilla with a combined capacity of 1.5m teu and throughput of 1.07m teu in FY 2025.

The terminals together offer roughly 1.6 km of quay length and sit on the national rail network, giving direct multimodal links for domestic and regional cargo. ALCN reported FY 2025 revenue of $176.5m, with a utilisation rate of about 71%.

SEIC, a PIF-owned entity, said the divestment fits its strategy of enhancing returns and freeing up capital for fresh opportunities in Egypt. Since taking its stake in 2022, SEIC supported operational improvements that helped ALCN lift operating revenue by 194%.

AD Ports Group funded the acquisition through cash and debt. Group CEO Captain Mohamed Juma Al Shamisi said the deal expands AD Ports’ footprint “in one of the world’s most critical maritime routes” and underlines the company’s long-term plan to strengthen trade connectivity and regional partnerships.

The move follows another push into Levantine container infrastructure earlier this month, when AD Ports agreed to acquire a 20% stake in Latakia International Container Terminal from CMA CGM for AED 81m ($22m). The two companies will jointly manage the Syrian terminal, which handles more than 95% of the country’s containerised cargo.

AD Ports has invested heavily in Egypt since 2022, acquiring a regional shipping player, Transmar, a port operator and stevedoring company, TCI, and a maritime agency and cargo services provider, Safina. Earlier this year, the group also signed a 50-year concession deal with Egypt’s Suez Canal Economic Zone to set up a 20 sq km logistics and industrial zone east of Port Said on the Mediterranean Sea.