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Egypt’s Suez Canal signs agreement to establish solid, liquid waste management company

Egypt’s Suez Canal Authority (SCA) signed on Monday an agreement with leading ship management group, Greek V, and Egyptian-Greek businessman Eric Adam to establish a company for solid and liquid waste management.

The deal stipulates that an Egyptian joint stock company – dubbed Antipollution Egypt – will be established to provide a new logisitical service to ships transiting the canal in accordance with the latest international environmental standards, the SCA said in a statement.

Prime Minister Mostafa Madbouly witnessed the signing ceremony.

Madbouly said that the solid and liquid waste collection and recycling service enhances efforts to localise environmentally friendly industries and activities.

It is a product of the strategy adopted by the government to develop the concept of “blue economy”, he added.

In the same context, the chairman of V Group and owner of Antipollution, Veron Vasiliadis, expressed his happiness to cooperate with the SCA, stressing that this partnership represents a new era in the history of Greek-Egyptian bilateral relations.

Eric Adam, on his part, confirmed that the new company will play “an important” role in the Suez Canal region, embodying a partnership not only at the level of companies or institutions, but rather a constructive partnership between Greece and Egypt.

Chairman of SCA Osama Rabie asserted that the Suez Canal is moving forward with implementing an ambitious strategy to diversify sources of income and maximise benefits from its assets and subsidiaries.

He added that the SCA plans to achieve these goals through adding new activities and expanding partnerships that allow the exchange of experiences and the transfer of advanced technology.

Rabie said that the new service is in line with the authority’s direction towards green transformation in preparation for announcing the Suez Canal a “Green Canal” by the year 2030.

Egypt has been working on turning its 72-kilometre-long Suez Canal — the world’s longest man-made canal without locks — into a “green route,” a step that aligns with the country’s ambitious plans to become a transit route for clean energy.
Source: Ahram Online

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