CMA CGM buys 35% stake in Egyptian dry port
The French carrier will take an active operational role in the October Dry Port
The acquisition strengthens CMA CGM’s presence in Egypt, alongside the container terminal it operates at Alexandria and the new terminal at Sokhna due to open next year
FRENCH carrier CMA CGM has purchased a 35% stake in Egypt’s October Dry Port near Cairo, as it looks to build its resources in the eastern Mediterranean.
The company signed a management agreement which will see it develop the logistics and rail platform at the inland facility.
Completed in 2023, the dry port is connected to all of Egypt’s sea ports and acts as a logistics hub to ease congestion on the busy Mediterranean terminals.
CMA CGM already operates a terminal at Alexandria and will open a new container terminal at Sokhna early next year.
Executive vice-president Christine Cabau Woehrel said the deal was a “unique opportunity to foster the development of low-emission intermodal solutions in Egypt through efficient rail connections”.
This new investment confirmed the group’s long-term commitment to Egyptian supply chain growth, she added
“It combines beautifully our worldwide maritime network to and from Egypt, our investment in the terminals of Alexandria and Sokhna, with the capacity to offer door-to-door efficient and competitive solutions to our Egyptian customers, opening a new, more sophisticated, vision of Egyptian supply chain development.”
