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Maersk to inject investments of $500m in Egypt

Maersk to inject investments of $500m in Egypt
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Cairo – Mubasher: The Chairman of the Suez Canal Authority (SCA), Osama Rabie, has witnessed the signing of a bilateral agreement with the world’s giant, A. P. Moller - Maersk, on areas of mutual interest.

Egypt’s SCA said Maersk group intends to pump investments worth about $500 million in the new berth in East Port Said, according to an official statement on Thursday.

Under the deal, Maersk will operate a new 1,000-long container berth and increase the number of cranes to 30, all electrically powered instead of diesel, a step that will reduce the terminal’s emissions and transform it into a green one by the end of 2030.

The announcement was made on the sidelines of Rabie’s four-day visit to the Netherlands and Denmark, which took place from 7-10 August 2022.