COSCO Pacific Limited announced that it bought a 20% stake in Suez Canal Container Terminal S.A.E. from Egyptian International Container Terminal.
Suez Canal Container Terminal, located at the North end of the Suez Canal, is a part of the east port area of the Port Said. It lies on the shipping lanes of all the major lines to and from Asia or Europe to the Mediterranean Sea. The terminal has been put in operation since October 2004 and has a total area of about 600,000 square meters, four deep-water berths and a total quay length of 1,200 meters. The second phase of the terminal will make it's capacity to 5.1 million TEUs and the terminal is expected to achieve a throughput of 1.75 million TEUs in 2007.
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