Egypt and Japan sign LE 1 billion agreement to build first-of-its-kind Suez Canal Dive Support Vessel

Egypt and Japan on Sunday signed an executive agreement for a US$22 million grant project from the Japan International Cooperation Agency (JICA) – equivalent to one billion Egyptian pounds – to finance the construction and delivery of the first-of-its-kind DSV (Dive Support Vessel) for the Suez Canal Authority’s fleet.

The signing ceremony was witnessed by Minister of Planning, Economic Development, and International Cooperation Rania al-Mashat and the Chairman of the Suez Canal Authority, Osama Rabie, in the presence of the Economic Counselor at the Japanese Embassy Yusuke Suzuki.

The agreement stipulates that the Japanese government, through the JICA, will provide a grant to finance the construction and delivery of the DSV for the Suez Canal Authority to perform multiple tasks.