AD Ports Group's bid for Alexandria Container Handling Company is rejected by Egypt after failed negotiations in Turkey.
The aggressive expansion efforts of AD Ports Group, a UAE-based port and logistics giant, have encountered significant obstacles once again. After previously withdrawing from negotiations for İzmir Alsancak Port in Turkey, the UAE group has now faced a clear rejection in its attempt to acquire a strategic port company in Egypt.
The Holding Company for Maritime and Land Transport, affiliated with the Egyptian Ministry of Transport, has stated unequivocally that it has no intention of selling its shares in the Alexandria Container and Cargo Handling Company (ACCHC), one of the country's most critical port operations.
This announcement followed AD Ports Group's subsidiary, Black Caspian Logistics Holding Limited, revealing its preparation for a mandatory buyout offer at 22.99 Egyptian pounds per share to increase its stake in the company to 90%.
The state holding company officially communicated that it currently owns 35.37% of ACCHC and will not relinquish this stake “neither today nor in the near future.” Consequently, the Emirati group's plan to establish control over Egypt's largest container terminal has come to an end before it even began.
Founded in 1984 and publicly traded since 1995, ACCHC operates two major terminals at the ports of Alexandria and El Dekheila. The company, with an annual capacity of 1.5 million TEUs, achieved a 71% capacity utilization rate by handling 1.07 million TEUs in the 2024/2025 fiscal year.
The financial performance clearly illustrates why the Egyptian state has not backed down:
- 8.37 billion Egyptian pounds in revenue in the last fiscal year
- 1.73 billion pounds in net profit in the first quarter of 2025/2026
- 9.7 billion pounds in net cash as of June 2025
- An extraordinarily high profit margin of 64%
In light of this situation, the Cairo administration has once again declared the port a “strategic national asset.”
This second disappointment for the UAE group brings to mind the process regarding Alsancak Port in Turkey. In 2023, AD Ports Group had engaged in negotiations to become the dominant partner in the operation of İzmir Alsancak Port, but the discussions ended without resolution after nearly two years.
With the conclusion of the negotiations, the operation of Alsancak Port remained with the Turkey Wealth Fund, and the Emirati group withdrew from the table. However, AD Ports has not completely given up on Turkey; instead of purchasing the port, it has opted for a partnership with the Turkish company Erkport. The group’s Noatum Maritime established a new company named United Global Ro-Ro in a 60-40 partnership with Erkport, planning a Ro-Ro line covering the Mediterranean, Europe, Africa, and Asia with a fleet of 11 vessels.
Source: www.denizhaber.com
