The two parties explored the possibility of forming a partnership to develop the Port Said Shipyard by attracting investments to upgrade the facility into a global hub for shipbuilding, repair, maintenance, and green ship recycling.
Osama Rabie, Chairman of the Suez Canal Authority (SCA), held discussions with representatives of Cyprus-based UW Group on potential cooperation to enhance the competitiveness of the Port Said Shipyard and transform it into a world-class facility for shipbuilding, maintenance, and repair services.
The two parties explored the possibility of forming a partnership to develop the Port Said Shipyard by attracting investments to upgrade the facility into a global hub for shipbuilding, repair, maintenance, and green ship recycling.
Rabie expressed his aspiration to open new horizons of collaboration with major international players in the ship repair and maintenance industry.
He highlighted the mutual benefits such cooperation could bring, including technology transfer, knowledge exchange, and workforce training, efforts that would position the Authority’s shipyards as the ideal global destination for high-quality, cost-effective maritime services.
Rabie reaffirmed the Suez Canal Authority’s commitment to transforming the Port Said Shipyard into an international center for shipbuilding and maritime unit construction, offering cutting-edge repair and maintenance services aligned with the latest global technologies.
He noted the Authority’s active pursuit of external partnerships and investment to introduce new services that were not previously available—such as container repair and eco-friendly ship recycling using the latest green systems.
For his part, Vassilios Demetriades, Strategic Advisor to UW Group, affirmed that the future holds promising opportunities for the development of Port Said Shipyard.
He envisioned the shipyard becoming the optimal destination for advanced, environmentally friendly maintenance and repair services that align with the rapid transformations in the global maritime industry.
Demetriades emphasized the shipyard’s competitive advantages, including its prime geographic location and solid physical and human capabilities, positioning it as the most suitable regional hub for repair and maintenance services in the Mediterranean.
The two sides agreed to study the proposed partnership further and to hold additional meetings to discuss all technical and economic aspects in detail.
