AD Ports Group to acquire 20% minority stake in Latakia International Container Terminal
AD Ports Group has signed a Joint Venture and Shareholders agreement with CMA CGM Group to acquire a 20% stake in the Latakia International Container Terminal (LICT) for AED81m (US$22m).
LICT is Syria’s primary maritime gateway handling over 95% of the country’s container volumes, especially for agricultural products and industrial goods.
CMA Terminals has been operating LICT since 2009 and has signed an amended 30-year concession agreement last May.
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