The Suez Canal Economic Zone and France-based Ecoslops agreed to join forces in a detailed feasibility study on recovering oil residues from ships transiting the canal.
Ecoslops and the Suez Canal Economic Zone have signed a Memorandum of Understanding (MoU) to combine their efforts to conduct a study on the regulatory, technical, financial and commercial aspects of the project.
The project aims to contribute to increasing the competitiveness of the Suez Canal and Egyptian ports by providing a collection and waste treatment service, as well as providing ship owners with essential traceability on their hydrocarbon waste. The goal of both parties is to complete this study by the third quarter of 2018.
The project is supported by the French government through financial assistance to the study (FASEP), and the Economical service of the French Embassy in Cairo.
Ecoslops’ technology transforms oil residues from slops and sludge into new fuels and light bitumen. The company has estimated the potential for recovering oil residues transiting the Suez Canal at more than 40,000 tonnes per year, based on 18,000 passages and 7,000 ports of call. Egypt world-class ports, like Alexandria, record more than 5,000 calls a year, which also have significant potential for waste generation.