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SCCT has ordered new equipment in excess of $42m: Klaus Laursen Daily News Egypt interviewed Klaus Larsen, Managing Director of the Suez Canal Container Terminal (SCCT), regarding their expansions in Egypt and their view of the investment atmosphere.
Egypt is currently working on the advancement of the logistics sector, especially after the New Suez Canal, and in preparation for establishing the economic area in the Suez Canal Axis. Daily News Egypt interviewed Klaus Larsen, Managing Director of the Suez Canal Container Terminal (SCCT), regarding their expansions in Egypt and their view of the investment atmosphere. What is the size of SCCT's anticipated investments and expansions in the Egyptian market during the upcoming period? SCCT presently has ordered new equipment in excess of $42m. Did the government take serious procedures towards implementing the side-channel? The question should be directed towards the Suez Canal Authority; however we trust that the SCA will deliver as promised lately in the media. Will the company fund the new side-channel for around $27m: $15m according to the agreement and and a further $12m? SCCT agreed in 2007 via annex 5 to contribute $15m, of which $7.5m was paid in 2010. No further contribution is being discussed. How does the company see the impact of the New Suez Canal project on its business, Egypt, international shipping movement and world trade? We expect a successful implementation of the East Port Said Port industrial and logistics zones will increase the volumes handled in the port, including containers moved via the East Port Said Port and SCCT. Might increasing the number of ships crossing the canal not cause long waiting periods once again? No. My understanding is that part of the purpose of the recent expansion of the Suez Canal was to expand capacity, which then by definition should not negatively impact waiting periods unless the growth exceeds the expanded capacity of the canal. Are there any consultations with the East Port Said Port Authority to get new spaces for expansions, especially since the company still operates on 2% of the total space of the port? We are presently not in discussions with the East Port Said Port Authorities on further expansions. However, the port includes vast areas of land for logistical and industrial usages, which I believe shall also be marketed to other businesses by SCA. What about container handling rates at the company so far and during the upcoming period? SCCT's handling rates are subject to negotiations directly with the users of our services and as such I cannot comment generally or directly on that.
