The Port Said Engineering Works Company, a subsidiary of the Suez Canal Authority, is building fibreglass boats for the Canal Company for Mooring and Lights worth EGP 16m in the current year.
Chairperson of the company Mohamed Haggag told Al Borsa that the company is also working on fixing the maritime units of the Suez Canal Authority, along with building a new fuel tanker worth EGP 10m and a 210 tonnes ferry to operate in transit across the Suez Canal.
The company is also tasked to build a locomotive for the Suez Canal Authority to pull 70 tonnes. Moreover, it is currently fixing nine maritime units owned by the development fleet of Lake Nasser. Port Said Engineering Works Co. has completed fixing six of these units.
Haggag said that the company is negotiating with owners of big tourism cruise ships, with a capacity of 1,500-5,000 tonnes, to conduct their maintenance works in Aswan.
He pointed out that the company is also now working on establishing new workshops for fibreglass operations and upgrading the older workshops to be capable of entering more sophisticated work applications, such as repairing locomotives. The company has also recently acquired new lands owned by the Suez Canal Authority in order to increase the size of the company in Port Said.
Haggag noted that the authority allocated EGP 25m to the company for developing its buildings, workshops, and equipment in fiscal year (FY) 2016/2017. The company is also set to be allocated EGP 21m in 2017/2018.
He added that the company has planned to develop its works over four years, starting two years ago when two new workshops in Aswan and Suez were established along with an administrative building. The company has also run a full maintenance round for three workshops in Port Fouad.