Suez Canal Container Terminal

Suez Canal Container Terminal is a container terminal located at Port Said East and functions as a transshipment centre for the Eastern Mediterranean at the northern entrance to the Suez Canal. The terminal has been operational since October 2004. Suez Canal Container Terminal is a private joint venture company that obtained the concession to build, operate, and manage this new terminal. The majority shareholding of SCCT is held by APM Terminals. 20% of the shares are held by COSCO, 10% are held by Suez Canal & Affiliates, 5% by the National Bank of Egypt, and the remaining 10% are held by the Egyptian private sector.HistoryThe Egyptian government signed a concession agreement for a term of 30 years in relation to the need for a container terminal in Port Said. In 2002, Egypt ratified an additional concession agreement, following earlier approval of terminal design in 2001.Construction on the SCCT first started in 2003, and a target date of October 1 of the following year was established. The Suez Canal Container Terminal became operational in October 2004.In 2007, the Egyptian government signed a concession agreement for the progression of "Phase II" of the SCCT facility.