Suez Canal Authority (SCA) Chairman Osama Rabie said on Sunday, June 28, 2026, that four Egyptian-made tugboats produced by the South Red Sea Shipyard have been sold to Italy’s Neri company, marking Egypt’s entry into the European market for locally manufactured marine units.
The SCA has also signed contracts to export two additional tugboats and a yacht built to custom specifications, all manufactured at the South Red Sea Shipyard, Rabie said in televised remarks. “This is a very good step, entering the European market,” Rabie stated, adding that the products “are being built at the South Red Sea Shipyard and exported to Italy.” He said the move aligns with President Abdel-Fattah El-Sisi’s directives to localize maritime industries, cooperate with the private sector, and manufacture tugboats in Egypt rather than import them.
Rabie added that the South Red Sea Shipyard has been transformed over two and a half years from a small facility performing basic repairs into a major shipyard producing tugboats, fishing vessels, and yachts. According to Rabie, 16 tugboats have been built at the shipyard so far.
The SCA has received 10 of them, while four were sold to Neri in Italy. Rabie also said President El-Sisi directed the production of 100 deep-sea fishing vessels ranging in length from 25 to 50 metres. He clarified that the first vessels are being built at the South Red Sea Shipyard, while others will be produced at SCA shipyards.
The first two vessels are set to be delivered by the end of June, with two more expected by the end of the year, Rabie said. He added that the first phase includes 12 fishing vessels measuring 50 metres in length and another 12 vessels measuring between 25 and 30 metres.
The vessels are expected to support cooperation with several African and regional countries that have expressed interest in working with Egypt in the fisheries sector, including Comoros, Mauritania, Senegal, Somalia, Eritrea, and Yemen. Rabie explained that the vessels are equipped with advanced fishing systems, including sonar technology to locate fish before nets are deployed.