For the first time, studying a promising project to transform the Suez Canal into a regional hub for distribution of spare parts and providing rapid repair services and maintenance at the entrances of the Suez Canal is being studied
H.E. Adm. Ossama Rabiee: “We endeavor to establish new avenues and horizons for cooperation with success partners in the fields related to providing logistical services".
Vice Chairman of Hyundai Corporation Holdings: “We look forward to enhancing commercial cooperation with the Suez Canal and to inject Korean investment into the Canal’s projects”.
At the conclusion of his foreign visit to South Korea, H.E. Adm. Ossama Rabiee, Chairman of the Suez Canal Authority, met with Mr. Wonkab Kim, Vice Chairman of Hyundai Corporation Holdings, and Mr. Ahnseok Chang, President of Hyundai Corporation, to discuss mechanisms of mutual cooperation in the field of providing logistical services.
The meeting witnessed discussions of potential avenues of cooperation and opportunities enabled by the exceptional geographic location of the Suez Canal, as H.
E. Adm. Ossama Rabiee, Chairman of the Suez Canal Authority, showcased the Authority's vision to establish new avenues and horizons for cooperation with success partners in fields related to providing new logistical services that were previously unavailable, such as providing rapid repair and maintenance services through highly efficient “mobile teams” that work in cooperation with the Authority's affiliated companies located at the northern and southern entrances of the Suez Canal in order to optimize the utilization of the Suez Canal’s resources, capabilities, and distinguished location.
H.E. Admiral Ossama Rabiee also addressed the Suez Canal’s ambitious vision to transform it into a regional hub for distribution of spare parts necessary for vessels transiting through the Canal at its northern and southern entrances, emphasizing that the Suez Canal's vision offers promising opportunities for cooperation and partnership with major global shipyards and companies to create added value, relying on the ingenuity of the Canal's exceptional diatinguished location, and benefiting from the cooperation in terms of opportunities of advanced technology transfer, experience exchange, and attracting direct investments to Suez Canal’s projects, as well as achieving mutual interests and contributing to serving the global trade transiting through the Canal.
On his part, Mr. Wonkab Kim, Vice Chairman of Hyundai Corporation Holdings, expressed his aspiration to enhance commercial cooperation with the Suez Canal and to inject Korean investments into the Canal’s projects by studying and exploring available avenues of cooperation, and benefiting from the Canal's exceptional geographic location, potentials, and promising opportunities, stressing that the upcoming period will witness further meetings and exchange visits to study the development of ideas and opportunities and turning them into tangible reality.