Egypt : Suez Canal Recorded Record Revenues in 2020-2021
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Agence Ecofin
Wednesday 21 September 2022 Last update on Wednesday, September 21, 2022 At 7:00 AM

The plan to diversify Suez Canal activities is continuing, with major investments coupled with the expertise of port and logistics multinationals. Objective, to make it a multifunctional port and industrial zone.

The Board of Directors of the Suez Canal Economic Zone (SCZone) approved on September 13 the implementation of 4 logistics projects in the Port Said East and Sokhna platforms.

The first project, awarded to the Roots-Rosa Greens consortium, concerns the integrated logistics zone east of Port Said. It involves the construction of a dry bulk terminal for grain handling, as well as the establishment of a logistics area for value-added operations. The 1st phase of the work will require an investment of 200 million Egyptian pounds (approximately $10 million).

The second investment consists of the extension of the Suez Canal container terminal over a length of 955 meters, and the expansion of the yard by 510,000 square meters. The cost of these infrastructures is estimated at 500 million USD. Port Said East will also host a multipurpose terminal, a USD 65 million project to be developed by the Sky Investment-Ryleins Logistics consortium.

As for the port of Sokhna, the planned investment concerns the construction, management and operation of a new container terminal. This project was awarded to the Hutchison-COSCO-CMA consortium.

These various investments are in line with the plan to diversify the canal’s activities, which aims to take it beyond its traditional functions as a maritime transit corridor, to become an integrated port and industrial area. The objective is to increase the income received by the State through its exploitation.

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