New Suez Canal Project is a Message of Hope to the Egyptians

Eng. Sherif Ismail , Minister of Petroleum and Mineral Resources, announced that the launching of the new Suez Canal project is a message of hope to the Egyptian People and a gift to the world. He explained that its completion in such a record time is considered a national accomplishment for its Leadership and people.

Eng. Ismail pointed out that the contribution of the Petroleum Sector to implementing this national project within the integrated framework of all the State’s Sectors, is a source of pride for all the Petroleum Sector workers that have contributed to such major project throughout history. It is noteworthy that this contribution was divided on two axes, first, the provision of fuel required for the equipment used to drill the New Canal , including 3000 tons of fuel oil and 1000 tons of maritime gas oil per day. The second contribution was through the role played by Petrojet as a contractor in the drilling operation in the southern sector of the Suez Canal. The company was able to execute the required tasks ahead of time while utilizing the latest equipment.

The Minister stated that the new Suez Canal project is a significant landmark of the Egyptian economy paving the way towards an economic breakthrough by transforming the Suez Canal into a logistic and commercial hub with a great impact on the International trade. The project will promote investment opportunities in all economic sectors and the emerge of new economic entities that rely on value-added activities, complementary industries , and combating youth unemployment.

Mr. Ismail denoted that the Petroleum Sector has a number of new refining and petrochemicals projects earmarked for the Southern Suez Canal economic zone.