Skip to main content

Shipping giant Maersk to invest $500 million in Suez Canal

The investment comes as the canal strives to go green following record-setting revenues.
JOHN THYS/AFP via Getty Images

The Suez Canal is getting a major investment in one of its ports.

The Suez Canal Authority announced yesterday that the Danish shipping company Maersk agreed to invest $500 million in the canal’s container terminal in East Port Said. The funds will go toward a new 1,000-meter berth, a place where ships can stay when anchored, that will feature 30 cranes and have electrical service. They also signed an agreement on increasing transit rates in the port and making the container terminal “green” by 2030, according to a Suez Canal Authority statement. 

East Port Said is located on the Mediterranean Sea at the end of the Suez Canal and is also the site of an industrial area. 

Why it matters: The investment is part of Egypt’s efforts to further develop the Suez Canal, through which around 12% of global trade passes. In terms of the environment, late last year, the Suez Canal Authority announced a plan to turn the waterway into a “green canal” by using renewable energy. 

Egypt is working to improve its environmental record and investing in green projects. To this end, the country has received solar panels from China recently ahead of the United Nations climate change conference in Sharm el-Sheikh in November. In June, Egypt and Saudi Arabia signed an investment agreement concerning renewable energy, specifically green hydrogen

Egypt already raised transit fees for the canal in April to offset the economic effects of the war in Ukraine, which has hurt tourism, grain supplies, fuel prices and other areas in Egypt. 

Before the Russian invasion, many Russians and Ukrainians visited Egypt’s Red Sea resorts. Russia and Ukraine also provided Egypt with the majority of its wheat. The global supply chain disruptions resulted from the war have also led to increasing commodity prices and inflation in Egypt, as they have elsewhere in the Middle East

Know more: Last month, Egypt established a dedicated fund to make use of Suez Canal revenues. The canal brought in a record $7 billion during its last fiscal year. 

Join hundreds of Middle East professionals with Al-Monitor PRO.

Business and policy professionals use PRO to monitor the regional economy and improve their reports, memos and presentations. Try it for free and cancel anytime.

Already a Member? Sign in


The Middle East's Best Newsletters

Join over 50,000 readers who access our journalists dedicated newsletters, covering the top political, security, business and tech issues across the region each week.
Delivered straight to your inbox.


What's included:
Our Expertise

Free newsletters available:

  • The Takeaway & Week in Review
  • Middle East Minute (AM)
  • Daily Briefing (PM)
  • Business & Tech Briefing
  • Security Briefing
  • Gulf Briefing
  • Israel Briefing
  • Palestine Briefing
  • Turkey Briefing
  • Iraq Briefing

Premium Membership

Join the Middle East's most notable experts for premium memos, trend reports, live video Q&A, and intimate in-person events, each detailing exclusive insights on business and geopolitical trends shaping the region.

$25.00 / month
billed annually

Become Member Start with 1-week free trial
What's included:
Our Expertise

Memos - premium analytical writing: actionable insights on markets and geopolitics.

Live Video Q&A - Hear from our top journalists and regional experts.

Special Events - Intimate in-person events with business & political VIPs.

Trend Reports - Deep dive analysis on market updates.

We also offer team plans. Please send an email to and we'll onboard your team.

Already a Member? Sign in