Factory for manufacturing steel sheets used in ships "underway"
Minister of Transportation, Kamel El Wazir, revealed in a statement on Tuesday that a new factory for manufacturing steel sheets used in ships is currently underway.
According to the statement, the ministry has reached an agreement with a South Korean company to purchase five ships for Alkahera Company For Ferries and Maritime Transport (KCFMT), followed by a cooperation between the company, The Suez Canal Authority and the private sector to manufacture commercial ships.
The statement comes a day after the minister announced that the ministry is working on restoring the Egyptian merchant fleet, under the directives of President Abdel Fattah El-Sisi.
“We are racing against time to launch the Egyptian merchant fleet to actively contribute to Egypt's foreign trade and benefit from the volume of trade with Europe and East Africa, by establishing operation lines for Egyptian ships passing through North Africa and then heading to Europe, in addition to other lines heading to East Africa” he added.