Egypt’s Cabinet approves Suez Canal dredging JV with private sector partner

Egypt’s Cabinet approved on Wednesday the establishment of a joint-stock company under the Suez Canal Authority (SCA) to carry out dredging and marine works projects in partnership with a private sector firm.

The decision was taken during the Cabinet’s 89th meeting chaired by Prime Minister Moustafa Madbouly.

Under the plan, the SCA will establish the “Suez Canal Dredging and Marine Works Company” in cooperation with a private sector company specialising in contracting and general supplies, according to a cabinet statement.

The company will carry out dredging operations, marine engineering works, and related procurement and supply services.

Attribution: Amwal Al Ghad English