FRENCH shipping giant cma CGM Group has signed a strategic partnership agreement with October Dry Port (ODP) in Cairo, following French President Emmanuel Macron's state visit to Egypt, according to the company's release.
The signing occurred in the presence of HE Kamel El Wazir, Deputy Prime Minister for Industrial Development and Minister of Transport and Industry, according to St Petersburg's PortNews.
CMA CGM will acquire a 35 per cent stake in ODP and enter into a management agreement, becoming an operational partner in the logistics and rail platform's activities and development. The acquisition's completion depends on customary closing conditions and regulatory approvals.
ODP, Egypt's first dry port, operates under a public-private partnership with the General Authority for Land and Dry Ports (GALDP) and was funded by the European Bank for Reconstruction and Development (EBRD).
Operational since November 2023, ODP is located in the New Industrial Area of 6th of October City, connected to Egypt's seaports, facilitating cargo clearance and reducing port congestion.
CMA CGM will utilise ODP's facilities to provide inland transport, customs clearance, and logistics services across Greater Cairo and Upper Egypt.
The group already manages the Tahya Misr terminal at Alexandria Port, inaugurated in June 2023, and will operate a new terminal at Sokhna Port in 2026.
CMA CGM plans to offer regular round-trip rail services between Alexandria, Ain Sokhna, and Greater Cairo.
SeaNews Turkey
The signing occurred in the presence of HE Kamel El Wazir, Deputy Prime Minister for Industrial Development and Minister of Transport and Industry, according to St Petersburg's PortNews.
CMA CGM will acquire a 35 per cent stake in ODP and enter into a management agreement, becoming an operational partner in the logistics and rail platform's activities and development. The acquisition's completion depends on customary closing conditions and regulatory approvals.
ODP, Egypt's first dry port, operates under a public-private partnership with the General Authority for Land and Dry Ports (GALDP) and was funded by the European Bank for Reconstruction and Development (EBRD).
Operational since November 2023, ODP is located in the New Industrial Area of 6th of October City, connected to Egypt's seaports, facilitating cargo clearance and reducing port congestion.
CMA CGM will utilise ODP's facilities to provide inland transport, customs clearance, and logistics services across Greater Cairo and Upper Egypt.
The group already manages the Tahya Misr terminal at Alexandria Port, inaugurated in June 2023, and will operate a new terminal at Sokhna Port in 2026.
CMA CGM plans to offer regular round-trip rail services between Alexandria, Ain Sokhna, and Greater Cairo.
SeaNews Turkey
