Madar Holding Expands into Maritime Sector with New Subsidiary: Madar Maritime Company (MMC)

✏️ BY: Dr. Hana Saada

Algiers, Algeria | August 23rd, 2024 — On Thursday, August 22, Madar Holding announced a major expansion into the maritime industry with the launch of its new subsidiary, Madar Maritime Company (MMC). This strategic move signals the state-owned conglomerate’s growing influence and commitment to strengthening Algeria’s economic infrastructure.

In a press release, Madar Holding emphasized that the establishment of MMC is part of a broader effort to diversify its portfolio and contribute to the growth of key economic sectors in the country. “Madar Holding is proud to announce the creation of a new subsidiary, Madar Maritime Company (MMC), specializing in maritime transport and logistics,” the company stated.

With this investment, Madar Holding aims to become a crucial player in maritime transport, enhancing trade exchanges and bolstering Algeria’s logistical capabilities. The company’s acquisition of its first vessel signifies the beginning of a robust presence in the maritime sector, with plans to expand its fleet further.

The statement also detailed the significant financial backing behind MMC, which will enable the company to invest in a range of vessels designed to meet various maritime and logistical needs. This includes ships with different capacities and specialized functions, ensuring that MMC is equipped to handle a wide array of challenges and opportunities in the industry.

“As a new public operator in the maritime transport and commercial logistics sector, Madar Maritime Company brings ambitious growth plans and a firm commitment to investing in strategic areas,” the statement concluded.

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