• Photo: Transmar


Artikel Nummer: 41598

AD Ports investing in land and sea

The Abu Dhabi (AD) Ports Group is taking over 70% of the shares in International Associated Cargo Carrier, the holding which owns the two Egypt-based maritime companies Transmar International Shipping Company (Transmar) and Transcargo International (TCI).


This is the group's first step into the international field. The transaction sum amounts to AED 514 million (USD 140 million). The investment will be paid out of AD Ports cash reserves.


Transmar is a regional container carrier that operates in the Middle East, Red Sea, Arabian Gulf and Eastern Coast of Africa. It handled almost 110,000 teu in 2021.


TCI is a terminal operator and stevedoring company and the exclusive container operator in Adabiya Port. It posted a throughput of more than 92,000 teu and 1.2 million t of bulk cargos in 2021. (sh)




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