APM Terminals invests in Port Said to counter Cosco
Given the expansion of Greece’s Piraeus Port, owned by the Chinese group – also a shareholder in Egypt’s Port Said – the Danish group is attempting to revamp its port facilities to stay in the race.
16/04/2020 at 16h23, by Africa Business+
Suez Canal Container Terminal (SCCT) – a 55%-owned subsidiary of APM Terminals, part of Denmark’s behemoth Maersk, alongside China’s Cosco (20%), the Suez Canal Authority (10%) and the National Bank of Egypt (5%) – will invest $50m and reduce its fees to boost its competitiveness in a regional environment that has become increasingly challenging.
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