Egypt’s Holding Company for Maritime and Land Transport has signed a Memorandum of Understanding (MoU) with A.P. Moller-Maersk to enhance responsible ship recycling (RSR) at Damietta Port. This agreement is aligned with international environmental and safety standards, such as:
- Hong Kong Convention (for safe ship recycling).
- Basel Convention (regulating hazardous waste management).
Goals of the Agreement:
- Sustainable Ship Scrapping: The project will provide raw materials for Egypt’s iron and steel industry, reducing dependence on scrap imports and saving foreign currency.
- Environmental Protection: The initiative ensures safe, eco-friendly recycling practices to minimize pollution and waste.
- Economic Growth: The collaboration will support local industries, create jobs, and improve Egypt’s maritime transport sector.
Expansion of Maritime Cooperation
During the signing, Egypt’s Minister of Industry and Transport, Kamel El-Wazir, discussed further maritime investment opportunities with Maersk, focusing on:
- Developing container terminals in Egypt.
- Investment in key ports such as Gergoub, Max, Sokhna, and Berenice.
Why is This Important?
Egypt is positioning itself as a major maritime hub, with sustainable ship recycling being a key step in reducing environmental impact and boosting its industrial economy. By partnering with Maersk, a global leader in shipping, Egypt aims to enhance responsible maritime operations while attracting foreign investments.
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Source: ZAWYA
