Cairo – Mubasher: Chairman of Suez Canal Authority (SCA), Osama Rabie, witnessed the signing of a memorandum of understanding (MoU) with Greece’s Empire Chemical Tanker Holdings Inc. to support bilateral cooperation in the maritime transportation fields.

The step comes upon the directives of the Egyptian President, Abdel Fattah El-Sisi, to enhance economic cooperation between Egypt and Greece, according to a statement on Thursday.

A strategic partnership will be concluded between the two nations through establishing a joint venture (JV) subsidiary that will facilitate international trade, and export and import of goods from and to Egypt. The subsidiary will own, operate, and manage a group of vessels and tankers.

For his part, SCA’s chairman expressed his readiness to provide all support and facilitate procedures to turn the MoU into a reality, highlighting that a bilateral team will prepare in the coming period feasibility studies and will finalise the required technical and financial studies for the project.