Egypt has inaugurated a second container terminal at East Port Said Port, at the northern end of the Suez Canal on the Mediterranean Sea, which will boost the country’s trade and economic development as well as it position as a key logistics and trade hub in the region.

International Finance Corporation ( IFC ), the private sector arm of the World Bank Group, helped fund the project via a US$175 million loan to Suez Canal Container Terminal Company ( SCCT ).

Egyptian President Abdel Fattah el-Sisi inaugurated the terminal, which will increase the port's overall capacity by nearly 2.2 million twenty-foot equivalent units ( TEUs ), about 45% of the port’s capacity. It will also add a 955-metre berth and a 510,000-square-metre container yard.

The new container terminal features elements aligned with the country’s sustainability objectives, such as the use of electric cranes. SCCT will also strengthen its environmental and social management system, aligning it with IFC’s performance standards, which provide guidance on identifying risks and impacts to support sustainable business practices.

“SCCT is committed to expanding operations at our terminal in East Port Said Port, which is strategically located in the Suez Canal and Suez Canal Economic Zone. This investment is an integral part of Maersk’s and APM Terminals’ commitment to invest in Egypt and will enhance service levels to our customers,” says SCCT managing director Keld Mosgaard Christensen. “SCCT, APM Terminals, and Maersk have a long-standing relationship with IFC and appreciate IFC’s support in the changing global shipping environment.”

Feza Engizek, SCCT’s chief financial officer, adds: “This expansion is a strategic investment that strengthens SCCT’s financial and operational foundation for long-term growth. We are not only expanding capacity but also enhancing profitability and cost efficiency through which we deliver sustainable value for our shareholders, customers, and Egypt’s economy.”