East Port Said side chan­nel to be com­pleted by June 2016

Kuwait Times - - BUSINESS -

CAIRO: Egypt plans to com­plete a side chan­nel in East Port Said, near the Suez Canal, that would speed up ship­ping and al­low ships di­rect en­try into the port by the end of June 2016, Mo­hab Mem­ish, head of the Suez Canal Au­thor­ity, said yes­ter­day. The new chan­nel will cost $36 mil­lion, of which $7.5 mil­lion will be fi­nanced by the Suez Canal Con­tainer Ter­mi­nal (SCCT), Mem­ish said. SCCT is 55 per­cent owned by APM Ter­mi­nals, part of Maersk Group. “We are build­ing the side chan­nel which will al­low the ships to en­ter from open wa­ters di­rectly into East Port Said,” said Mem­ish at a news con­fer­ence in Is­mailiya. Cur­rently ves­sels that come through East Port Said have to be co­or­di­nated with the Suez Canal con­voy. “There was a prob­lem with the ships that en­ter East Port Said which have to wait be­tween seven to 10 hours to en­ter the port,” Mem­ish said, adding that he ex­pects the new chan­nel to in­crease traf­fic at the port by 2020 to reach 12 mil­lion con­tain­ers.

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