The Egyptian Competition Authority (ECA) signed off on CMA CGM Inland Services’ acquisition of a 35% stake in the October Dry Port Company (ODP), according to a statement. The green light clears the way for the French shipping giant’s entry into the firm’s USD 60 mn logistics project.

Background: The transaction, first announced in April of this year, is part of a broader strategic partnership aimed at boosting the port’s operations and positioning it as a national and regional cargo hub.

ICYMI- ODP is 70% owned by El Sewedy Electric, while 20% is held by SLP for Logistic Properties and 10% by Schenker Egypt. It remains unclear which of the companies’ stakes CMA CGM bought out. The dry port is being developed under a build-operate-transfer (BOT) framework in Sixth of October City.

CMA CGM has been busy: The firm inked a USD 440 mn agreement with Turkish firm Borusan Holding to acquire 100% of its logistics and supply chain solutions firm Borusan Tedarik back in April. The company’s subsidiary CEVA also inked an agreement with Saudi Arabia’s Almajdouie Logistics in October 2024 to form a joint venture to boost logistics and transport services in the Kingdom.

A lot of love for Six of October City: Elsewedy Industrial Development was expected to break ground on its industrial zone — Industria October — in New 6 October City upon receiving a 2.5 mn-sqm plot from the New Urban Communities Authority back in April 2024. The zone is located near the 6 October dry port and linked by railway to Alexandria port.

REMEMBER- A hub for textile imports: Egypt’s Customs Authority began allowing the import and customs clearance of textile and related products via the October dry port in January.

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