Bloomberg News

Maersk May Invest in $83 Million Suez Container Terminal Channel

March 23, 2012

A.P. Moeller-Maersk A/S (MAERSKB), Europe’s biggest ship owner, may contribute to the building of a navigation side channel in the Suez Canal Container Terminal at Port Said, Egypt’s Ministry of Transport said.

The planned navigation channel will cost 500 million Egyptian Pounds ($83 million), the ministry said today in an e- mail, citing Maersk Chief Executive Officer Claus V. Hemmingsen. Maersk’s APM Terminals owns 55 percent of the container port in the northwest of the country.

To contact the reporters on this story: Abdel Latif Wahba in Cairo at alatifwahba@bloomberg.net; Dahlia Kholaif in Kuwait at dkholaif@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


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