North Africa: Egypt's Suez Canal Authority, Hyundai Advance Shipyard Development Plans

24 August 2025
Egypt State Information Service (Cairo)
By Amwal Al Ghad

Egypt's Suez Canal Authority (SCA) held talks on Sunday, August 24th, 2025, with South Korea's Hyundai Corporation to advance joint projects in shipbuilding, repairs and clean energy, including plans to modernize the authority's shipyards and develop facilities for eco-friendly vessels.

SCA Chairman Osama Rabie met In-Bum Choi, Hyundai's Managing Director of Hyundai Corp, in Ismailia along with a high-level delegation.

The talks follow ongoing discussions aimed at forging a partnership to upgrade SCA-affiliated companies and expand cooperation in clean energy applications.

Rabie said the global shipbuilding and repair market faces major challenges as the International Maritime Organisation (IMO) pushes for a transition to green fuels, creating opportunities for Egypt's shipyards to position themselves as hubs for environmentally friendly marine units.

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The authority's cooperation with Hyundai has already yielded agreements, including a grant to establish a training centre in Port Said that will prepare students for work at liquefied natural gas stations.

Plans also cover developing the Port Said Shipyard and setting up an extension in Port Fouad for building eco-friendly vessels and sustainable ship recycling.

Hyundai has completed preliminary studies and technical proposals to modernize the Suez Shipyard Company, Choi said, with a memorandum of understanding expected within six months to begin implementation.

He also confirmed work was under way to deliver equipment for the Port Said training centre, where courses are set to start in 2026.

Read the original article on Egypt Online.

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