Suez Canal Containers aims to invest $60M during 2021

CAIRO – 9 February 2021: Suez Canal Container Terminal (SCCT) aims to invest $ 60 million during 2021, Chief Commercial Officer of the Company, Sunai Mukherjee.

Mukherjee clarified in a press conference that this comes to enhance the competitiveness of the container handling terminal at East Port Said Port.

Chief Commercial Officer said that the company's investments are currently estimated at over $900 million.

He added, that the company is looking to add 6 giant cranes, bringing the number to 12 giant cranes during 2021, in addition to increasing the number of yard winches from 50 to 60-yard winches.

The Chief Commercial Officer of the Suez Canal Company indicated that a growth from 5 to 7 percent in the number of containers handled is targeted.

Mukherjee noted that the Suez Canal spending contributed to increasing the port's share in the handling of export and import containers to 10 percent of the port's total traffic, and about 90 percent of transit containers.

The company stated earlier, that the trading rates at the company's terminal in East Port Said Port grew by 20 percent during the year 2020 on an annual basis.

The company stated that the East Port Said Container Terminal handled 3.7 million TEUs during the past year, which is the highest circulation rate in the history of the terminal’s operation since its inception in 2004.