Egypt’s Suez Canal Zone unveils deal to boost competitiveness, investments

Egypt’s Suez Canal Zone and its Suez Canal Container Terminal (SCCT) announced a deal on Tuesday committing to $50 million of investments that they said would help boost competitiveness at Port Said East port, Reuters reported.

SCCT opened in 2004 and is operated by majority shareholder APM Terminals, part of Denmark’s A.P.Moller-Maersk. It has struggled to attract container and transshipment business in recent years.