Establishment of the proposed MARPOL Port Reception Facility follows a previous agreement reached between the parties in January last year for a detailed feasibility study on the unit.
The newly signed deal is a result of the positive outcomes of the feasibility study.
As part of the deal, Ecoslops and SCZone are expected to finalise the technical studies and develop a financial plan for the MARPOL Port Reception Facility in Port Saïd.
Implementation of the project is scheduled to begin at the end of the year.
Ecoslops said in a statement: “The project includes the deployment of a collection vessel, as well as the construction of a reception and treatment facility on a 2ha land plot in the new port area in East Port Saïd.
“This agreement already includes the possibility for Ecoslops to also establish in Suez at the South end of the canal, according to the same principle.
“Once the volumes of collected and treated oil waste will be sufficient, an Ecoslops’ P2R micro-refinery unit may be deployed and operated for their valorisation.”
Ecoslops noted that the potential of recovering oil waste moving through the Suez Canal is estimated to be more than 40,000t per year. The estimate is based on data gained from 18,000 canal transits and 7,000 port calls.
The new MARPOL Port Reception Facility project is expected to help in strengthening the competitiveness of the Suez Canal and ports in Egypt.
The Government of France provided financial assistance to support the project.