Turkey and AD Ports Group, an Abu Dhabi-based port operator, have concluded negotiations over the potential acquisition of operating rights for Alsancak Port in Izmir, with no agreement reached.
The talks, initiated approximately 18 months ago, aimed to allow AD Ports to manage the port, but discussions stalled due to unresolved terms, as reported by Bloomberg.
Alsancak Port, Turkey’s third-largest container port, handled 1.1 million TEUs in 2024, a 3.2% decline from 1.14 million TEUs in 2023, reflecting economic pressures and geopolitical tensions.
Transport and Infrastructure Minister Abdulkadir Uraloğlu stated on February 20, “The aim was to enhance Alsancak Port’s efficiency and attract investment, but differences in operational and financial terms prevented a deal.”
The port, operated by DP World since 2005 under a 36-year concession, faces modernization needs, with a 2023 capacity of 1.5 million TEUs, but underutilization due to Red Sea disruptions rerouting 15% of Asia-Europe traffic via the Cape of Good Hope in 2024.
AD Ports Group is an Abu Dhabi-based port operator, part of ADQ and Abu Dhabi’s economic diversification, headquartered in Abu Dhabi, sought to expand its global port network, which includes 40 terminals across 17 countries, managing over 7.5 million TEUs annually in 2024, up 8.6% from 2023.
DP World is a Dubai-based global port operator, part of the Dubai World group, headquartered in Dubai.