14 June 2024 05:20 AM

PM witnesses signing ceremony of deal between SCA, Antipollution Company

Monday، 20 March 2023 - 01:23 PM

Prime Minister Mostafa Madbouli on Monday witnessed the signing ceremony of a deal between the Suez Canal Authority (SCA) and the Greek Antipollution Company, a member of V Group which is a robust Group of Companies with a strong presence and continuous growth in Waste Management, Renewable Energy Sources and Financial Investments.

The deal aims at establishing a company titled "Egypt Antipollution" as a shareholding company to offer services for waste and liquid waste management.

Minister of Oil Tarek El Molla, Minister of Environment Yassmin Fouda, Chairman of SCA Admiral Osama Rabie and Head of Suez Canal Economic Zone (SCZone) Walid Gamal el Din and the Greek consul general in Cairo attended the signing ceremony.

The deal aims at establishing a shareholding Egyptian company through partnership between SCA, represented by Canal Company for Ropes and Suez Maritime Arsenal and the Greek Company of Antipolltution.

The new company will offer logistic services to ships passing the Suez Canal and maximize the benefits from the navigation course and its surrounding areas with the objective of backing the State's efforts to reinforce the national economy, lure foreign investments and provide job opportunities for youths.

Madbouli, for his part, said the liquid and solid waste collection and their recycling would boost the state's efforts to nationalize the eco-friendly industries and activities and achieve the sustainable development targets, adding that it is the outcome of the government's adopting the blue economy concept.

Meanwhile, Admiral Rabie said the move is a step forward on the State's promising strategy of diversifying the income resources and optimize the assets owned by the Suez Canal and its affiliate companies through tending towards new activities and expansion in partnerships that pave the way for experience exchange and technology transfer.


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