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Suez Canal authority to set up new int'l shipyard

Xinhua, May 12, 2017 Adjust font size:

The chairman of the Suez Canal Authority on Friday decided the establishment of an international shipyard at Adabiya area in northwestern the Gulf of Suez, east Cairo, in cooperation with Japan's Mitsubishi, official news agency MENA reported.

"The new shipyard would provide transiting ships with refueling and other logistics services," Mohab Mamish, who is also the chairman of the General Authority for Suez Canal Economic Zone, said in a statement.

He also announced that the Suez Canal Authority is planning to operate two container ships between the East and West Port Said ports.

Each ship can carry more than 50 containers, he added.

The Egyptian economy has been battling to recover after experiencing recession due to political turmoil that led to the ouster of two presidents by establishing mega national projects including the Suez Canal development corridor, with expansion of infrastructure. Endit