A.P. Moeller-Maersk A/S, 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.