Photo credit: Suez Canal Authority

Egypt´s Suez Canal Authority and the Greek V Group of companies have signed on Monday a deal to provide solid and liquid waste collection and management, in accordance with the official statement.

The agreement was signed by the Suez Canal Authority, the Greek V Group of companies which owns the Greek company Antipollution, and the Egyptian-Greek Businessman Eric Adam to establish an “Antipollution Egypt Company” a new joint stock company to collect and recycle solid and liquid waste.

Under the agreement, an Egyptian joint stock company will be established in partnership between the SCA, represented by each of the Canal Rope Company, the Suez Shipyard Company (two of SCA affiliated companies), the Greek V Group of companies (which owns the Greek company Antipollution), and the Egyptian-Greek Businessman Eric Adam.

These companies are handing to add a new service within the logistics services provided to ships transiting the canal, in accordance with the latest international environmental standards.

Prime Minister Mostafa Madbouly confirmed that the new partnership provides new logistical services for ships transiting the Suez Canal, which is a strong addition that supports the development of the system for providing maritime logistics services.

Madbouly further added that the deal will maximise the benefit from the navigational course of the Suez Canal and the surrounding area, and integrates with the state’s efforts to support the economy by attracting more foreign investments and providing job opportunities.

He elaborated that the solid and liquid waste collection and recycling service enhances efforts to localise environmentally friendly industries and activities.

Madbouly also said that the project will help to achieve the sustainable development goals, and it is also a product of the strategy adopted by the government to develop the concept of the “Blue Economy.”

Mr. Vyron Vasileiadis, the Chairman of V Group of Companies, which owns the Greek company “Antipollution”, said this partnership represents a new era in the history of the Greek-Egyptian bilateral relations, in a new field related to achieving environmental sustainability and investing this cooperation to maintain the leading position of the Suez Canal in the field of maritime industry, in addition to achieving carbon neutrality, and ensuring safe disposal of waste.

The Egyptian-Greek businessman Eric Adam, confirmed that the new company will play an important role in the Suez Canal region, to embody a partnership not only at the level of companies or institutions, but rather a constructive partnership between Greece and Egypt, expressing his aspiration for what the cooperation will result in creating added value through launching the solid and liquid waste collection service for the first time in the Suez Canal.