Suez Canal Authority inked a $500 million deal to build 2nd container terminal in East Port Said

The General Authority of the Suez Canal Economic Zone (SCZONE) and Suez Canal Container Terminal (SCCT) signed a $500 million settlement agreement to establish a 2nd container terminal in East Port Said.
On 15 November, Waleid Gamal El-Dein, Chairman of the General Authority for SCZONE, and Steven Yoogalingam, CEO and Managing Director of SCCT signed the contract during the sideline of the UN climate summit (COP27).
Under the contract, SCCT will finance, design, construct, manage, and operate the new terminal.
This project is in line with SCZONE’s plan to expand its affiliated ports to help the global trade movement and play a key role in the transportation of green fuel.
At present, the terminal is operating with a berth length of 2,400 meters and a handling yard of 1.2 million square meters, with an annual throughput of 4 million TEU.
The project will expand the current SCCT Container Terminal at East Said Port to 955 meters and a handling yard of 510,000 square meters, for an additional annual capacity of 2 million TEU.

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