SCZONE signs a framework business agreement with Suez Canal Container Terminal Company

Mr. Waleid Gamal El-Dien, Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE), signed a framework business agreement with Mr. Steven Yoogalingam, Chairman of the Board of Directors of the Suez Canal Container Terminal Company (SCCT), to implement new incentives related to the activity of SCCT inside East Port Said Port, and to implement SCZONE’s strategy that aims to attract more investments in the port and enhance trading processes, which achieves the common interest for both parties.

“SCZONE seeks to provide many incentives, which include reducing port, berthing, and pilotage fees imposed on all container ships according to the total tonnage of the ship and the number of containers. This agreement is part of SCZONE’s plan to improve the competitive position of the port through more incentives that maintain its importance for maritime navigation in the world. These incentives come within the framework of the continuous support provided by SCZONE to its partners, especially concerning its affiliated ports. SCZONE is keen to provide an efficient work environment that takes developments in the global economic situation and the global navigation movement into account.” Mr. Waleid Gamal El-Dien, Chairman of SCZONE declared.

“The new incentive system supports more cooperation between SCZONE and SCCT in East Port Said Port, as this agreement achieves common interests and takes into account the global economic changes, which confirms the importance of joint and permanent coordination with SCZONE to reach an effective framework that achieves the objectives of both parties.” Mr. Steven Yoogalingam stated.

It is worth noting that East Port Said Port received, during the year 2022, approximately 1,524 various vessels, with an achieved capacity of more than 40 million tons and the number of containers 3,5 million equivalent containers. East Port Said Port is also witnessing many developments works that include soil improvement projects, road networks, facilities, and yards, in addition to the implementation of an electronic system in the port, as part of the plan to develop the SCZONE ports, to be equipped with the highest international standards.