SCCT Phase 3

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 IFC is considering an investment of up to $175 million in the form of a corporate loan for a brownfield expansion of the Suez Canal Container Terminal S.A.E. (“SCCT” or “Company”). IFC proceeds will go to finance the design, construction, and operation of a 48 hectares expansion of the existing SCCT, which covers 120 hectares, for a total area after expansion of 168 hectares (“Project”). No environmental or social (“E&S”) sensitive receptors were identified in the vicinity of the project. The project construction is planned to start at the end of 2023. SCCT is located in Port Said’s Integrated Economic Zone (PSIEZ) established in 2004, which has a development plan including multipurpose terminals, grains terminals, and a logistics area.   SCCT will be responsible for tendering out and managing the superstructure works, which include ground reinforcement (e.g., subsurface works and pavement), yard construction, and provision of support facilities and equipment. The latter includes the supply of 12 electric Ship-to-Shore (“STS”) cranes, 30 electric Rubber Tired Gantry (“RTG”) cranes, a fleet of 90 trucks, 5 empty handlers, and 4 reach stackers.  SCCT is a joint venture of APM Terminals B.V. (“APMT”), a wholly owned subsidiary of Maersk, who is the majority shareholder (55%) and operator, with China Ocean Shipping Company (“COSCO”) with (20%), the Suez Canal Authority (10%), National Bank of Egypt (5%), and other Egyptian companies and individuals owning <5% (10%).