Korean marine companies to invest USD500m in Egypt’s canal

22 Sep 2015

(MENAFN) The Korea Marine Equipment Association (KOMEA) is about to spend USD500 million in the Suez Canal Zone and the Port Said shipyard in Egypt.

The firm stressed on the fact that it’s fully prepared to cooperate with the Egyptian government in the marine equipment manufacturing field.

In more detail, there are particularly 20 firms specialized in the marine equipment industry which plan to invest in the Suez Canal area and the Port Said shipyard.

“The Suez Canal is a main route for our ships, and because Korea has advanced technologies in marine equipment manufacturing, we are ready to cooperate with Egypt,” said the firm’s Managing Director.

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