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Egypt Nears to Build Second Container Terminal, East Port

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The Egyptian Suez Canal Economic Zone signed a $500 million deal with the Suez Canal Container Company to build a second container handling terminal.

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Under the signed agreement, the Suez Canal Container Terminal will be highly responsible for the design, construction, financing, operational activities, and management.

FOOTAGE: Suez Canal signs an agreement of $500 million to build the second container handling terminal

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According to SCCT, the outlined economic project will magnificently expand its operations of Container handling from the rest of the world at large.

“With a length of 955 meters and a handling yard of 510,000 square meters, the Container Terminal is currently operating on a length of 2,400 meters and a handling yard of 1.2 million square meters as the key operator”, the East Port said in a statement.

Photo/Courtesy:Suez Canal signs an agreement of $500 million to build the second container handling terminal.

The SCZONE chairman of the General Authority Waleid Gamal El-Dein said that the strategic project comes within the formulated framework.

Photo/Courtesy:

Further, East Port clarified that the Terminal expansion which is estimated at $500 million, provides one thousand indirect and direct job opportunities to the people of North Sinai Cities and at the Port as well.

Photo/Courtesy.

Managing Director and CEO Steven Yoogalingam stated that the targeted additional volume reaches two million TEUs with cumulative investments as earlier estimated on the budget.

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He also figured out to the cooperation as a complement to the partnership journey that has been pushed forward since 2004 for the modern and advanced Egyptian National Economy.

Photo/Courtesy.

On the other hand, the Canal Terminal is currently operating with a berth length of 2,400 meters and a handling yard of 1.2 million square meters, with an annual throughput of four million TEU.

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