CMA CGM Acquires 35% Stake in Egypt’s First Dry Port
French shipping and logistics leader CMA CGM has announced its acquisition of a 35% stake in Egypt’s October Dry Port (ODP). The dry port, which officially opened in November 2023, marks Egypt’s inaugural public-private partnership in the transport sector, developed in collaboration with Elsewedy Electric and the General Authority for Land and Dry Ports. This strategic investment follows French President Emmanuel Macron’s recent state visit to Egypt and aims to enhance logistical capabilities across the region.
Enhancing Egypt’s Logistics Landscape
The October Dry Port is designed to streamline cargo operations, connecting directly to all of Egypt’s seaports. By serving as a logistics hub, ODP aims to expedite cargo clearance and alleviate congestion at seaports, significantly improving the flow of goods throughout the country. CMA CGM’s involvement includes a management agreement, enabling the company to participate in the ongoing development and operational activities of the inland port’s logistics and rail platform.
According to CMA CGM, this investment will strengthen its operational capacity across Greater Cairo, Upper Egypt, and the Mediterranean and Red Sea regions. Christine Cabau Woehrel, the company’s executive vice president for assets and operations, emphasized the potential for developing low-emission intermodal solutions in Egypt. She highlighted the synergy between CMA CGM’s extensive maritime network and its investments in the Alexandria and Sokhna terminals. This partnership aims to provide efficient and competitive door-to-door solutions for Egyptian customers, paving the way for a more advanced supply chain framework.
The acquisition’s finalization is pending standard closing conditions and regulatory approvals. CMA CGM’s commitment to enhancing the Egyptian supply chain reflects its long-term vision for sustainable growth in the region.
