Egypt's Sea and Land Transportation Holding Company and A.P. Moller - Maersk A/S have announced the signing of a memorandum of understanding to establish Egypt's first ship recycling plant at the Port of Damietta. This project is seen as an important step towards environmentally friendly maritime development. The agreement, which took shape after President Abdel Fattah Al-Sisi's visit to Denmark last December, aims to strengthen bilateral cooperation in the maritime sector.
Al-Wehda Industrial Development Company will partner in the project, which aims to provide raw materials to the iron and steel industry and save foreign currency by reducing dependence on imported scrap. It will also comply with international environmental standards in ship recycling, adhering to global regulations such as the Hong Kong Convention on International Ship Recycling and the Basel Convention. Egyptian Minister of Industry and Transport Kamel El-Wazir said that this cooperation reflects Egypt's commitment to supporting environmental sustainability and strengthening global partnerships.
The agreement supports Egypt's ambition to become a strategic hub for maritime transport, while integrating economic growth with environmentally friendly industrial development. During the ceremony, the Egyptian Ministry of Transport and Maersk also discussed opportunities for cooperation on container terminal investments in the ports of Gargoub and El-Mex in the Mediterranean Sea and Ain Sokhna and Berenice in the Red Sea. These projects will enable Egypt to become an important logistics hub in the maritime sector.
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