This
week, the Ministry of Transport’s Holding Co., dedicated to Maritime and Land
Transport (abbreviated as HCMLT), signed a MoU with the El Wehda Industrial
Company to develop a shipbreaking yard based in Damietta Port.
Kamel El-Wazir, the Egyptian Transport
Minister, mentioned the collaboration is part of a presidential directive for
boosting public-private associations in the transport sector.
It’s
aimed at boosting the development of the local iron and steel sector, which
currently depends on scrap metal (imported).
This can be replaced with vessel
recycling materials that are locally sourced.