Abu dhabi: AD Ports Group today acquired Saudi Egyptian Investment Company's (SEIC), a PIF company, 19.328% equity stake in Alexandria Container and Cargo Handling Company (ALCN), one of the largest container terminal operators in Egypt, in a deal valued at approximately EGP13.2 billion. The acquisition marks a significant milestone in AD Ports Group's expansion strategy in Egypt.
According to Emirates News Agency, AD Ports Group, a leading enabler of global trade, logistics and industry, is reinforcing its position as a key facilitator of trade in the Mediterranean region. The investment aims to enhance AD Ports Group's ability to facilitate trade flows along the main East-West corridor connecting Asia, the Middle East, and Europe, while advancing Egypt's vision for economic diversification and sustainable development.
The transaction also aligns with SEIC's strategy to increase the value and competitiveness of its portfolio companies, generate long-term market impact, and redeploy capital toward new high-potential opportunities in Egypt. SEIC's investments in a wide range of sectors, including fertilizers, logistics, education, digital payments, healthcare, consumer finance, and retail, have contributed to enhancing the growth of the Egyptian market. SEIC's investment in ALCN since August 2022 has elevated ALCN's operational efficiency and business growth, with the company recording a 194% increase in total operating revenue between FY 2022 and FY 2025.
Established in 1984 and listed on the Egyptian Exchange since 1995, ALCN operates two strategically located terminals on the Mediterranean, in Alexandria and El-Dekheilla, with a combined capacity of 1.5 million TEUs, throughput of 1.07 million TEUs, and utilization rate of about 71% in FY 2025. Together, the terminals comprise approximately 1.6 kilometers of quay length and are directly connected to Egypt's national rail network, ensuring seamless multimodal connectivity for international shipping lines and regional trade. ALCN's customer base includes leading global carriers, and in FY 2025 the company reported EGP 8.37 billion (USD 168 million) in revenue and EGP 6.09 billion (USD 129 million) in adjusted EBITDA.
AD Ports Group funded the transaction through a combination of existing cash and debt. Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, stated that by acquiring a stake in ALCN, the group is expanding its operational footprint in one of the world's most critical maritime routes. This investment supports efforts to facilitate trade through this vital corridor, while deepening partnerships and expanding investments in Egypt, aligning with leadership directives to drive economic diversification, strengthen regional integration, and deliver long-term value for stakeholders.
Muteb Al Shathri, acting CEO of the Saudi Egyptian Investment Company, noted that SEIC continues to explore high-quality investment opportunities in promising sectors within the Egyptian market and to build long-term economic and strategic partnerships that create a positive impact on both the Egyptian and Saudi markets by driving growth and delivering sustainable returns. Alexandria Container and Cargo Handling Company is one of SEIC's earliest investments in Egypt, and efforts over the past two years have resulted in remarkable success, business expansion, and strong financial performance.
Al Shathri added that this transaction reflects the success of the vision and strategy of the Saudi Egyptian Investment Company as a leading investor in the Egyptian market and as a partner of choice capable of enabling its investments. SEIC will utilize the proceeds of this transaction to pursue additional promising investment opportunities in the Egyptian market, reflecting its strong belief in the importance of the Egyptian market as a sustainable and thriving investment destination.