SCZONE Inks Container Handling Terminal Extension Contract

SCZONE Inks Container Handling Terminal Extension Contract

Egypt’s Suez Canal Economic Zone (SCZONE) signed a concession contract on Nov. 15, on the sidelines of the COP 27, with the Suez Canal Container Terminal (SCCT) for the “financing, design, construction, management, and operation” of the extension of the container handling terminal as a second terminal at Port Said East Port.

The project is said to be within the framework of maximizing the “leverage of the strategic importance of Port Said East Port” and it is considered as part of the SCZONE’s proposition to develop its affiliated ports to better serve the global trade movement as well as to play its pivotal role in the transportation of green fuel.

The signed project targets to expand the existing SCCT Container Terminal at Port Said East Port that has a current berth length of 2,400m and a handling yard of 1.2 million m2 with an annual throughput of 4 million TEUs. The expansion will add a length of 955m and a handling yard of 510,000 m2.

SCZONE Chairperson Waleid Gamal El-Dein pointed out that the extension is “within the framework of SCZONE’s consistent eagerness with Egypt’s economic strategy” that aims to develop Egyptian ports in order to maximize their role in the global maritime trade movement and to create more job opportunities by utilizing different investments.  

“This is exactly what the project offers, as it aims to expand the existing container terminal in Port Said East Port with cumulative investments estimated at $500 million, providing 1,000 direct and indirect job opportunities, especially for the residents of Port Said and North Sinai cities,” El-Dein added.

Furthermore, SCCT Managing Director Steven Yoogalingam noted that the cooperation between the two organizations is a complement to the “partnership journey that has extended since 2004 and as a result of APMM’s great confidence and belief in the Egyptian national economy.”

“The targeted additional volume reaches 2 million TEUs with cumulative investments estimated at $500 million,” he added.

Meanwhile, the Port Said East Port noted a significant increase in the rates of container handling in one hour in October while the SCCT announced the achievement of having one of the highest container handling rates during one shift or in 12 hours also in October.  

For more maritime updates, visit our blogs and like and follow us on Facebook, Twitter, and LinkedIn.