{"id":607428,"date":"2023-10-03T00:00:00","date_gmt":"2023-10-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/ifc-could-greenlight-funds-for-east-port-said-port-expansion-this-month\/"},"modified":"2023-10-03T00:00:00","modified_gmt":"2023-10-03T00:00:00","slug":"ifc-could-greenlight-funds-for-east-port-said-port-expansion-this-month","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/ifc-could-greenlight-funds-for-east-port-said-port-expansion-this-month\/","title":{"rendered":"IFC could greenlight funds for East Port Said port expansion this month"},"content":{"rendered":"

Maersk\u2019s expansion of East Port Said port could get IFC backing: <\/strong>The International Financial Corporation (IFC) is considering providing a loan of up to USD 175 mn to help the Suez Canal Container Terminal (SCCT) expand its existing container terminal at East Port Said port, the lender said on its website<\/a>. The multilateral lender is expected to decide on the loan by 30 October.<\/p>\n

Also included: an interest rate hedge. <\/strong>The IFC will also provide the SCCT with risk management products in the form of interest rate swaps with a loan-equivalent exposure of approximately USD 2 mn, the lender said.<\/p>\n

ICYMI- This is part of Maersk\u2019s expansion plans for the port: <\/strong> The Maersk-owned company is embarking on a USD 500 mn expansion of the East Port Said port that is expected to raise its capacity by 40%. The SCCT signed a contract<\/a> with the Suez Canal Economic Zone in November that will put it in charge of building and operating a second container terminal at the port, as well as taking on responsibility for securing financing for the project. The IFC puts the cost of the project at USD 489 mn, of which 64% will be financed by internally generated cash flows and 36% via debt.<\/p>\n

Refresher: <\/strong>The SCCT wants to expand the capacity of its existing 2.4k-meter container berth by 2.1 mn TEU to allow an annual capacity of 6.6 mn TEUs. This will significantly boost the port\u2019s current capacity, access to port services, and operational efficiency. Expansion of the terminal could kick off at the end of this year, with its initial operations commencing in 2H 2025.<\/p>\n

SOUND SMART- <\/strong>A TEU is the standard unit<\/a> for a shipping container \u2014 the corrugated metal things you\u2019ve seen being hauled on highways, stacked in ports, and carried on the deck of vessels. It stands for a twenty-foot equivalent unit.<\/p>\n","protected":false},"excerpt":{"rendered":"

The expansion of the terminal falls under Maersk\u2019s USD 500 mn development plans for the East Port Said port<\/p>\n","protected":false},"author":1,"featured_media":607429,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7576],"tags":[101,11649,72,7111,11648,145,665,416],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-607428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development-finance","tag-development-finance","tag-egyptian-international-container-terminal","tag-enterpriseam","tag-infrastructure","tag-international-financial-corporation","tag-logistics","tag-maersk","tag-suez-canal-economic-zone","wpautop","entry"],"acf":{"mongo_id":"76cb7d59-2a42-44b3-8222-e1bdd0d09ebc","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/180.jpg","photo_position":"above","homepage_title":"","full_issue_title":"IFC could support Port Said port expansion with USD 175 mn loan","related_issue":[607419],"teaser":"The expansion of the terminal falls under Maersk\u2019s USD 500 mn development plans for the East Port Said port","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/10\/.867431a6-6470-4d2e-b0fa-9c8762afb01c.mp3"},"yoast_head":"\nIFC could greenlight funds for East Port Said port expansion this month - 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The Suez Canal Container Terminal (SCCT) \u2014 majority-owned by Maersk\u2019s APM Terminals \u2014 yesterday signed a contract with the Suez Canal Economic Zone\u2026","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/258.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":607479,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/03\/this-evening-egypts-non-oil-private-sector-contracts-at-a-sharper-pace-in-september\/","url_meta":{"origin":607428,"position":1},"title":"THIS EVENING: Egypt\u2019s non-oil private sector contracts at a sharper pace in September","author":"enterpriseam admin","date":"3 October 2023","format":false,"excerpt":"Good afternoon, friends. It\u2019s almost the end of the week, with the upcoming long weekend making tomorrow a THURSDAY-equivalent. THE BIG STORY TODAY PMI contraction accelerates again: The contraction in Egypt\u2019s non-oil private sector deepened in September on the back of \u201cprice and supply challenges\u201d that curbed output levels, according\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/388.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572163,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/14\/egypts-scct-to-invest-usd-60-mn-to-expand-east-port-said-container-terminal\/","url_meta":{"origin":607428,"position":2},"title":"Egypt\u2019s SCCT to invest USD 60 mn to expand East Port Said container terminal","author":"enterpriseam admin","date":"14 June 2020","format":false,"excerpt":"Suez Canal Container Terminal (SCCT) is planning to spend USD 60 mn starting July to add capacity to the East Port Said Port container terminal, CEO Lars Christensen said, according to Hapi Journal. The company, which is majority-owned by Maersk subsidiary APM Terminals, will invest in new port cranes that\u2026","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548063,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/25\/scct-to-invest-usd-500-mn-to-expand-east-port-said-port-capacity\/","url_meta":{"origin":607428,"position":3},"title":"SCCT to invest USD 500 mn to expand East Port Said port capacity","author":"enterpriseam admin","date":"25 July 2022","format":false,"excerpt":"The Suez Canal Container Terminal (SCCT) wants to invest USD 500 mn to expand the capacity of East Port Said port, company representatives confirmed to Enterprise. The company plans to build a 1k-meter container berth, which is expected to raise the port\u2019s annual capacity by almost 40%. The news was\u2026","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/251.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592223,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/02\/edita-al-baraka-bank-in-line-for-loans-from-ifc\/","url_meta":{"origin":607428,"position":4},"title":"Edita + Al Baraka Bank in line for loans from IFC","author":"enterpriseam admin","date":"2 August 2023","format":false,"excerpt":"The international lender could lend USD 85 mn to the two companies, and mobilize an additional USD 15 mn for Edita","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/8\/34.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":675640,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/11\/17\/el-sisi-inaugurates-usd-724-mn-worth-of-projects-in-east-port-said-port\/","url_meta":{"origin":607428,"position":5},"title":"El Sisi inaugurates USD 724 mn worth of projects in East Port Said Port","author":"enterpriseam admin","date":"17 November 2025","format":false,"excerpt":"The terminal spans 510k sqm, includes a 950-meter berth, and will add an extra 2.2 mn TEU of annual capacity","rel":"","context":"In "Logistics"","block_context":{"text":"Logistics","link":"https:\/\/enterpriseam.com\/egypt\/category\/logistics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/11\/1209.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/607428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=607428"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/607428\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/607419"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/607429"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=607428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=607428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=607428"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=607428"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=607428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}