Suez Canal Authority (SCA) inked a cooperation protocol with Anchorage Investments on Thursday targeting to construct a world-class petrochemicals complex at the SCZone in Ain Sokhna Northwest of the Gulf of Suez. The prolific cooperation signing took place at the SCA’s Maritime Guidance and Navigation Center headquarters (Irshad Building) in Ismailia, where the Director of the Public Works Department at the SCA – Eng. Nivan Emad El-Din Al-Sayed, and Director of the Business Development Department at Anchorage Investments – Eng. Sherif Sayed Mahmoud, signed the Memorandum of Understanding which was witnessed by the SCA’s Chairman and Managing Director, and the Founder and Managing Director of Anchorage Investments.
Chairman and Managing Director of the Suez Canal Authority (SCA) – Admiral Osama Rabie – highlighted that the SCA spares no effort in optimizing its assets, cementing its ambitious strategy in opening new channels for lucrative cooperation with trusted success partners.
Within the SCA’s objective to maximize the utilization of its resources and diversify its income streams, Admiral Rabie unveiled that such a fruitful arrangement comes in line with the State’s endeavors towards boosting development activities in the Suez Canal Zone and availing direct and indirect job opportunities for Egypt’s promising youth. The Chairman and Managing Director of the SCA asserted on the authority’s full willingness and readiness in providing all the incentives and support needed to expedite implementing such a state-of-the-art project.
Founder and Managing Director of Anchorage Investments Ltd. – Dr. Ahmed Moharram – expressed his sincere gratitude and appreciation for joining forces with the SCA. Treasuring their prosperous collaboration, Moharram emphasized the efforts exerted by the authority in closely working with serious investors to meticulously set a win-win way forward for forthcoming promising projects that would robustly boost Egypt’s economy.
Moharram further praised the unceasing support provided by the government in backing important mega-investment projects; especially capital-intensive industrial ones, within the country’s target and plan to transform Egypt into a regional energy and petrochemicals hub.
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