Suez Canal, UW Group Discuss Turning Port Said Shipyard into Global Hub for Shipbuilding
The Suez Canal Authority (SCA) is actively pursuing strategic partnerships to transform the Port Said shipyard into a world-class destination for shipbuilding, maintenance, repair, and environmentally friendly ship recycling services.
A high-level delegation from Cyprus-based UW Group, a leading provider of ship repair and maintenance services to global shipping companies, met with Osama Rabie, Chairman of the Suez Canal Authority, at the Pilots' Building in Ismailia.
The meeting aimed to explore future cooperation to enhance the competitiveness of Port Said's shipyard.
The delegation included Vassilios Demetriadis, UW Group's Strategic Affairs Advisor, and Evangelos Tsangaridis, the Group's Chief Operating Officer.
During the discussions, both parties explored potential partnerships and investment opportunities to develop the shipyard into a globally recognized facility capable of offering comprehensive shipbuilding, maintenance, repair, and green recycling services.
Rabie reaffirmed the Suez Canal Authority's ambitious strategy to diversify its revenue streams by maximizing the value of its assets and upgrading the marine and logistical services offered. This aligns with the authority's vision to transform the canal into a global center for shipbuilding and marine unit services, including spare parts, repair, and maintenance.
He expressed eagerness to open new avenues for collaboration with major players in the ship repair sector, emphasizing technology transfer, knowledge exchange, workforce training, and elevating the competitiveness of the SCA's shipyards to become the premier global destination offering high-quality services at competitive costs.
He further outlined the authority's commitment to developing the Port Said shipyard into a state-of-the-art facility utilizing the latest global technologies, including new service lines like container repair and environmentally responsible ship recycling using advanced systems.
Demetriadis highlighted the promising future for the Port Said shipyard, citing its strategic geographical location and strong physical and human resources as key factors positioning it as the optimal destination for Mediterranean ship repair and maintenance with advanced, eco-friendly approaches that align with rapid changes in maritime transport.
While, Tsangaridis discussed plans to enhance mechanization across various operations, improve workforce efficiency, and adhere to environmental standards and sustainability principles consistent with the blue economy and the Suez Canal's green transformation strategy.
The meeting concluded with agreement to study the partnership proposal further and arrange additional discussions focusing on technical and economic aspects.
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With 148,000+ professionals across 90+ countries helping 1100+ clients, Tech Mahindra provides a full spectrum of services including consulting, information technology, enterprise applications, business process services, engineering services, network services, customer experience & design, AI & analytics, and cloud & infrastructure services. It is the first Indian company in the world to have been awarded the Sustainable Markets Initiative's Terra Carta Seal, which recognizes global companies that are actively leading the charge to create a climate and nature-positive future. Tech Mahindra is part of the Mahindra Group, founded in 1945, one of the largest and most admired multinational federation of companies. For more information on how TechM can partner with you to meet your Scale at Speed™ imperatives, please visit Our Social Media Channels For Further Queries: Gaurav Sethi Head – Investor Relations Phone: +91 9971152508 Email: Rushabh Jain Associate Manager – Investor Relations Phone: +91 9619267252 Email: Abhilasha Gupta Head – Global Corporate Communications & Public Affairs Phone: +91 9717946080 Email: Leah Jena Associate Manager – Corporate Communications Phone: +91 9348920917 Email: Disclaimer Certain statements in this release concerning the future prospects of Tech Mahindra Limited ('the Company' or 'TechM') are forward-looking statements. These statements by their nature involve risks and uncertainties that could cause Company's actual results differ materially from such forward-looking statements. The Company, from time to time, makes written and oral forward-looking statements based on information available with the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
