APM Terminals will pump up to $500m to develop a 1 km long berth at East Port Said in Egypt.
The chairman of the Suez Canal Authority (SCA), Osama Rabie, has been in Europe this week and was on hand for the signing of the agreement with the Maersk company.
APM Terminals has been the majority shareholder of Suez Canal Container Company at Port Said for nearly 20 years, a facility it claims is the only terminal in Egypt to be able to simultaneously serve two ultra large container vessels, without compromising on productivity.
Investments in Egyptian port infrastructure have shot up over the past 18 months with the country trying to position itself as a future green refuelling hub.
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