Cosco Pacific ups Suez CT financing to build phase 2

COSCO Pacific has said it is increasing its share in the Suez Canal Container Terminal, which it jointly owns with APM Terminals from US$137.5 million to $185.6 million.

Having already boosted investment in the terminal from $68.8 million, the Chinese terminal operator said the reason for renewed investment was increasing building costs of the next phase of construction, the first phase having a produced capacity of 2.25 million TEU, while the second phase will double that to 5.1 million TEU.

Source: http://www.schednet.com