Suez Canal Aquaculture Company, Tejedor Lázaro Group Ink Cooperation Deal

(MENAFN- Daily News Egypt) Egypt's Prime Minister Mostafa Madbouly attended the signing of a Memorandum of Understanding (MOU) between the Suez Canal Fish Farming Company and Spain's Tejedor Lázaro Group, aiming to enhance cooperation in fisheries and aquaculture. The signing ceremony, held on Wednesday, saw Osama Rabie, Chairperson of the Suez Canal Authority, and Cristina Fraile, Deputy Head of the Spanish Mission, in attendance.

The agreement was formalised by El Sayed Mohamed Shalaby, Chairperson and Managing Director of the Suez Canal Aquaculture Company, a subsidiary of the Suez Canal Authority, and José Luis Tejedor, Managing Director of the Tejedor Lázaro Group. Tejedor Lázaro Group specialises in fisheries, aquaculture, fish farm management and operations, and animal feed production.

Speaking after the signing, Prime Minister Madbouly emphasised the Egyptian government's commitment to developing partnerships with international organisations, to draw on their expertise across a range of industries.

“The fisheries sector presents considerable investment potential, fuelled by recent advancements and the allocation of numerous sites for aquaculture development,” Madbouly said.

He noted the significance of the MOU in supporting President Abdel Fattah Al-Sisi's recent visit to Spain, which sought to strengthen strategic cooperation, encourage investment, and foster long-term strategic relations between the two countries.

The Prime Minister also observed that the MOU concentrates on enhancing food security within the fisheries, aquaculture, and animal feed sectors, areas in which Egypt has seen notable advancements in recent years.

Rabie echoed this view, stating that the MOU aligns with the government's wider strategy of attracting foreign investment to work alongside domestic capital in major sustainable development projects.

“Both parties are committed to achieving mutually beneficial objectives through the agreement, facilitating the implementation of aquaculture projects and the advancement of existing operations,” Rabie said.

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