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Suez Canal Economic authority approves establishment of vessels’ bunkering terminal at East Port Said port.

 Adel Lamaey, head of Port Said navigational chamber said that the chamber has obtained an approval from Mohab Mameesh, head of Suez Canal Economic region for the establishment of a vessels’ terminal for fuel bunkering at East Port Said region.  

 Investment volume for the terminal establishment is about 100 million dollar for the sake of exploiting crossing of 18 thousand vessels at Suez Canal channel annually, where resources have assured that implementation of the project will achieve a leap in foreign currency and added that establishment of a new company has already been decided with the Economic authority for the management and operation of the project.

 Lamaey also pointed out that the chamber has presented the project to petroleum authority to coordinate with it: providing with required fuel for the terminal. He also claimed the necessity for banking sector support to companies’ desiring to finance new vessels’ purchase: vessels flying the Egyptian flag, since local banks refuse providing loans for private sector to purchase new vessels

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