New investments

Abu Dhabi Ports to invest in Egypt

by Port News Editorial Staff

Abu Dhabi Ports has completed the acquisition of 70% of the shares of Egypt-based Transmar International Shipping and Transcargo International, owned by IACC Holdings, a company owned by the El Ahwal family.

Transmar is a regional container line operating in Egypt, Saudi Arabia, Jordan, Sudan, Djibouti and the United Arab Emirates. Petrochemicals constitute a considerable part of the trade along these routes and Transmar has ‘special capabilities’ in handling these products.

Transcargo is primarily a terminal operator, owning and operating a fleet of stevedoring equipment in the Red Sea port of Adabiya, where it is also the exclusive container operator.

Translation by Giles Foster

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