Cairo: Egypt's Suez Canal Authority (SCA) held talks 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 with In-Bum Choi, Hyundai's Managing Director, along with a high-level delegation to discuss these initiatives.

According to State Information Service Egypt, the talks follow ongoing discussions aimed at forging a partnership to upgrade SCA-affiliated companies and expand cooperation in clean energy applications. Rabie noted that the global shipbuilding and repair market faces 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.

The cooperation between the authority and Hyundai has already resulted in agreements, including a grant to establish a training centre in Port Said to prepare students for work at liquefied natural gas stations. Plans also include 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, according to Choi, with a memorandum of understanding expected within six months to begin implementation. He also confirmed that work is underway to deliver equipment for the Port Said training centre, where courses are set to start in 2026.