The Suez Canal Authority and Maersk have signed a new $500 million deal to build a new berth at the Suez Canal Container Terminal in East Port Said.
The deal, signed earlier this week, aims to turn the terminal into global hub for container handling in the eastern and southern Mediterranean region.
The new 1-kilometre container berth is adjacent to the existing 500-metre berth.
The deal includes an increase in the number of cranes to 30. The new cranes will be electricity-powered as part of the terminal’s aims to become net-zero by 2030.
During his foreign tour in the Netherlands and Denmark, Head of the Suez Canal Authority Lieutenant-General Osama Rabie witnessed the signing of the bilateral agreement with Maersk.
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The deal was signed as part of wider cooperation to increase the traffic of Maersk ships through the Suez Canal, as well as reviewing ways to develop the terminal.
The deal also aims to turn the Suez Canal Container Terminal into a smart terminal.
Maersk’s terminals branch, APM Terminals, is the majority shareholder in the Suez Canal Container Company (SCCT), operating a container terminal at the port.
Rabie began his foreign tour by meeting with Keith Svendsen, CEO of APMT, and the senior management team of the Maasvlakte Container Terminal in the Port of Rotterdam.
Earlier this month APM Terminals (APMT) announced a new warehouse and a last-mile transport service at Porto Itapoá, Brazil for increased flexibility, efficiency, and lower operating costs.