SCCT
Capital share increase to USD 185.6m to meet
the construction’s expenses
- APM Terminals and Cosco Ports are the main shareholders
DEC, 11.2008
Suez Canal Container Terminal (SCCT), announced the increase of her capital share from USD 137.5m to USD 185.6m, to cover the rising expenses for the completion of 2nd phase of the terminal constructions.
Egyptian International Container Terminal (EICT) of APM Terminals (A.P. Møller-Mærsk group) have a 55% stake in Suez Canal Container Terminal and other stake of 20% belongs to Cosco Ports Port Said Ltd. (CPPS), a subsidiary of Cosco Pacific, while the remaining 25% is under control by other companies as Suez Canal Authority and National Bank of Egypt.
Cosco Pacific participated in the increase of capital share acquiring 96.251 shares of SCCT through Cosco Ports, investing USD 9,6m in cash.
SCCT manages the Port Said infrastructures (1st phase), with an annual handling capacity of 2.55m TEUs. By the completion of the 2nd phase, in the 1st Q of 2010, the handling capacity will be rose to 5,1m TEUs and SCCT will be the largest container terminal in the Mediterranean Sea.
