COSCO Pacific boosts Suez terminal funding

COSCO Pacific boosts Suez terminal funding COSCO Pacific said Thursday it is injecting capital into the Suez Canal Container Terminal, a facility that it owns a stake in with APM Terminals.
   The Chinese terminal operator said it has increased its share capital in the terminal from $137.5 million to $185.6 million, months after increasing it from $68.8 million.
   The reason for the capital infusion is increasing construction costs of the next phase of the Egyptian container terminal. The first phase has a capacity of 2.25 million TEUs, while the second phase will more than double capacity to 5.1 million TEUs.