French shipping and logistics giant CMA CGM has agreed to buy a 35% stake in Egypt’s October Dry Port (ODP).
Officially launched in November 2023, ODP is Egypt’s first dry port and the first public-private partnership project in the Egyptian transport sector under the EBRD Green Cities program. It was developed, built, and operated by Elsewedy Electric in partnership with the General Authority for Land and Dry Ports (GALDP).
A strategic partnership, sealed following French President Emmanuel Macron’s state visit to Egypt, includes a management agreement under which CMA CGM will become involved in the activities and development of the logistics and rail platform of the inland port.
ODP is directly connected to all of Egypt’s seaports and serves as a logistics hub, facilitating faster cargo clearance, reducing seaport congestion.
CMA CGM, which operates the Tahya Misr container terminal at the Port of Alexandria and the new terminal of Sokhna set to open early next year, said the ODP deal would bolster its operations across Greater Cairo and Upper Egypt as well as in the Mediterranean and the Red Sea.
“This is a unique opportunity to foster the development of low emission intermodal solutions in Egypt through efficient rail connections,” said Christine Cabau Woehrel, executive vice president of assets and operations at the CMA CGM, adding that the new investment confirms the Group’s long-term commitment to Egyptian supply chain growth.
“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,” she added.
The closure of the acquisition is subject to customary closing conditions and regulatory approvals.
