Admiral Osama Rabie Chairman of the Suez Canal Authority, witnessed the signing of a memorandum of understanding ( MoU ) between the Suez Canal Authority and the Southern Red Sea Shipyard Company, at the Irshad building in Ismailia governorate.

The MoU aims to enhance joint cooperation in the tourism yacht industry in Egypt.

 Admiral  Rabie expressed his aspiration that the cooperation would result in the integration of national efforts towards the localization of the tourism yacht industry in Egypt, in line with the directives of President Abdel Fattah El-Sisi, President of the Republic to search for new sources of income diversification and interest in yacht tourism and the participation of the national private sector in development projects

Chairman of the authority explained that the cooperation agreement will allow the manufacture of tourist yachts of different models at the authority’s arsenals and the South Red Sea Shipyard, which will enable the introduction of new technical expertise and maximize the use of the authority’s assets and resources.

On the other hand , Mr. Mustafa Al-Dugaishy, ​​Chairman of the Board of Directors of  South Red Sea  Shipyard Company, stressed that the tourism yacht industry is one of the most promising economic activities that will have a return on providing job opportunities and increasing the resources of the national economy.

The MoU was signed by Eng. Mohamed Hassan Abdel Moneim, Director of Supply Department at the Authority, and Mr. Mustafa Al-Dujaishy, ​​Chairman of the Board of Directors of South Red Sea Shipyard  Company.

Stated the official spokesman for the Suez Canal Authority George Safwat

About : Southern Red Sea Shipyard

Located 2 KMs south of Safaga, South Red Sea Shipyard is perfectly sheltered against prevailing winds, protected by Safaga Island from the north and the Red Sea Mountains from the south.With a capacity of more than 70 yachts