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Suez Canal, UW Group Discuss Turning Port Said Shipyard into Global Hub for Shipbuilding

Taarek Refaat 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. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean