Egypt's Holding Company for Maritime and Land Transport and A.P. Moller – Maersk A/S signed a memorandum of understanding on Thursday to establish Egypt's first ship recycling project at Damietta Port, marking a significant milestone in sustainable maritime development. The agreement stems from President Abdel Fattah El-Sisi's visit to Denmark last December and his discussions with Danish officials, reinforcing bilateral cooperation in the maritime sector. The project, being developed in partnership with Al-Wehda Industrial Development Company, aims to supply raw materials for the iron and steel industry through environmentally sustainable practices. By reducing reliance on imported scrap, the move will help conserve foreign currency while promoting eco-friendly industrial growth. Deputy Prime Minister for Industrial Development Kamel El-Wazir emphasised that the partnership reflects Egypt's commitment to strengthening global partnerships and adhering to international agreements, including the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (HKC) and the Basel Convention. The project is expected to contribute to the circular economy by minimising waste and addressing environmental challenges in the maritime transport sector. The MoU builds upon a previous agreement signed in December between the Holding Company for Maritime and Land Transport and Al-Wehda Industrial Development Company to establish the first ship dismantling and repair company of its kind in the Arab and African regions. The company will focus on ship recycling, new ship construction, and both planned and emergency ship repairs. The signing ceremony also featured discussions between the Ministry of Transport and A.P. Moller – Maersk A/S on expanding maritime cooperation. Following President Sisi's meeting with Maersk's Chairman in Denmark, talks explored Maersk's potential investment in container terminals at key ports, including Gargoub and El-Mex on the Mediterranean, as well as Ain Sokhna and Berenice on the Red Sea. These projects could further enhance Egypt's role as a strategic maritime hub. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
