- November 15, 2022
- Posted by: Ahmed Abdelatif
- Category: 2022, EN, Green
Within the framework of maximizing the leverage of the strategic importance of Port Said East Port, Mr. Waleid Gamal El-Dein – Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE), and Mr. Steven Yoogalingam – CEO and Managing Director of Suez Canal Container Terminal (SCCT), today, signed a concession contract for “financing, design, construction, management, and operation” of the extension of the container handling terminal as a second terminal at Port Said East Port, between SCZONE and SCCT, in the sidelines of the UN climate summit (COP27), which is currently held in Sharm El-Sheikh, Egypt.
This project is considered a part of SCZONE’s plan to develop its affiliated ports to serve the global trade movement, in addition to the pivotal role it will play in the transportation of green fuel.
The project aims to expand the existing SCCT’s Container Terminal at Port Said East Port, with a length of 955m and a handling yard of 510,000 m2. The terminal is currently operating with a berth length of 2,400m and a handling yard of 1.2 million m2 as the main operator in Port Said East Port, with annual throughput of 4 million TEUs.
” This project comes within the framework of SCZONE’s consistent eagerness with Egypt’s economic strategy, which aims to develop the Egyptian ports to maximize their role in the global maritime trade movement and to exploit the various investments to create job opportunities. 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.” Chairman of SCZONE – Mr. Waleid Gamal El-Dein said.
From his side, Mr. Steven Yoogalingam, said: “The targeted additional volume reaches 2 million TEUs with cumulative investments estimated at $500 million”. He pointed out to this cooperation as 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.
Mr. Steven Yoogalingam referred to the new technologically advanced half-automated terminal that shall be operated by clean and renewable energy using electric equipment within APMM’s decarbonization strategy to achieve net zero by 2030.
He praised the significant role played by SCZone – as working in a Partnership with shareholder in SSCCT – in the attained achievements and also the support and cooperation bestowed by the State authorities that had a great impact on our success among the Egyptian ports.
The board of directors of the General Authority for the Suez Canal Economic Zone (SCZONE) has recently approved this project submitted by Suez Canal Container Terminal (SCCT), the main operator of Port Said East Port, and also approved several projects to accelerate the pace of work in the green fuel industry, as President Abdel Fattah El-Sisi inaugurated the first facility of green hydrogen production in SCZONE, during the current climate conference (COP27).
It is worth noting that Port Said East Port witnessed a significant increase last October in the rates of container handling during one hour, bringing it close to the highest international rates as the terminal sets a strategy to increase container handling rates and increase its global competitiveness.
The Suez Canal Container Terminal (SCCT) announced achieving one of the highest container handling rates during one shift (12 hours) on 6th of October 2022, reaching 6,800 moves with a handling rate average of 42 MPH per crane.
