Clarksons Shipping Agency (Clarksons) are looking to establish a new bunkering facility in Egypt, according to local media reports.

Managing Director Mohamed Metawi has told Daily News Egypt that the facility will receive an estimated investment of $200 million and would most likely be located in the Suez Canal Economic Zone.

Negotiations are currently underway with what was described as “two international companies.” “We hope to seal the deal with one of the two companies in 2018,” he said.

Metawi adds that he believes the petroleum sector is filled with investment opportunities with the country having launched tenders to carry out petroleum exploration. “This is why we are working to utilise these opportunities.“

Article republished with permission from Ship & Bunker.

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