Deal signed for CT2 in East Port Said
The Egyptian Ministry of Investment has signed an agreement with United Arab Shipping Company (UASC) to establish a second container terminal (CT2) in East Port Said.
The terminal is expected to cost in the region of US$700m, with the funds coming from the Holding Company for Maritime & Land Transport (75%), UASC (20%) and the remainder from a company in East Asia.
The operational capacity is expected to be around 3m teu, with a third of that from UASC alone.
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