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Suez Canal Container Terminal
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Suez Canal Container Terminal (SCCT) (Arabic: شركة قناة السويس للحاويات) 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 (SCCT) is a private joint venture company that obtained the concession to build, operate, and manage this new terminal. The majority (55%) 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 (NBE), and the remaining 10% are held by the Egyptian private sector.[2]
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History
The Egyptian government signed a concession agreement for a term of 30 years in relation to the need for a container terminal in Port Said.[citation needed] In 2002,[citation needed] Egypt ratified an additional concession agreement, following earlier approval of terminal design in 2001.[citation needed]
Construction on the SCCT first started in 2003,[citation needed] and a target date of October 1 of the following year was established. The Suez Canal Container Terminal became operational in October 2004.[2]
In 2007, the Egyptian government signed a concession agreement[3] for the progression of "Phase II" of the SCCT facility.[2]
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