CMA Group announces the acquisition of a 35% stake in the Egypt logistics center, October Dry Port, further solidifying its position in the Egyptian market. The group has been operating in Egypt for a long time, currently managing the Tahya Misr container terminal at the Port of Alexandria and actively advancing the upcoming new Sokhna terminal project. It is worth mentioning that this acquisition news was announced during French President Macron's visit to Egypt, adding more attention to the transaction.

Zhongjin understands that since its opening in 2023, October Dry Port, operated by Elsewedy Electric, has the capability to seamlessly connect with all seaports in Egypt, playing a crucial role in the Egyptian logistics transport system.

CMA Group stated: "Through the purchase of a 35% stake and the signing of a management agreement, we will become active operational partners in the logistics and railway platform business of October Dry Port."

"We will leverage our expertise in inland port management to provide reliable and cost-effective services to all customers."

CMA Group did not disclose the acquisition price, and the transaction will need to go through the usual regulatory approval process.