The Holding Company for Maritime and Land Transport in Egypt has signed a Memorandum of Understanding (MoU) with A.P. Moller-Maersk to enhance cooperation in responsible ship recycling (RSR), following international standards.
This partnership aims to create a sustainable environment while supporting the steel and scrap industry, focusing on providing raw materials for Egypt’s iron and steel sector. The initiative will also reduce scrap imports and foreign currency use by sourcing materials locally.
The project, which is Egypt’s first of its kind, will take place at Damietta Port in collaboration with the Industrial Development Group. It complies with international regulations such as the Hong Kong and Basel Conventions, prioritizing environmental protection and resource efficiency in maritime transport.
This MoU builds on a previous agreement to establish a company focused on ship scrapping, ship construction, and ship repairs.
Discussions also took place on expanding maritime transport cooperation, particularly in container terminals. Minister Kamel El-Wazir emphasized investment opportunities at key ports along both the Mediterranean and Red Sea coasts, underscoring Egypt’s favorable investment climate.
