Egypt and Japan on Sunday signed an executive agreement for a US$22 million grant project from the Japan International Cooperation Agency (JICA) – equivalent to one billion Egyptian pounds – to finance the construction and delivery of the first-of-its-kind DSV (Dive Support Vessel) for the Suez Canal Authority’s fleet. The agreement stipulates that the Japanese government, through the JICA, will provide a grant to finance the construction and delivery of the DSV for the Suez Canal Authority to perform multiple tasks. A vital waterwayThe minister added that the agreement’s most significant feature is its focus on enhancing the capabilities of the Suez Canal Authority, the global waterway that serves approximately 12 percent of global trade. The head of the Suez Canal Authority said that the DSV is an unprecedented addition to the Authority’s fleet. Rabie added that these new vessels will significantly contribute to supporting the authority’s marine rescue team during its diving operations and participation in search and rescue operations and dealing with emergencies.

Source: Egypt Independent December 29, 2025 11:18 UTC