MOSCOW, November 12. /TASS/. Russia may take part in modernizing shipyards of the Suez Canal, connecting the Mediterranean Sea to the Red Sea, and build a new shipyard in Egypt, the Russian Industry and Trade Ministry said.
"The Russian side presented projects to modernize the existing shipyards of the Suez Canal and outlined the opportunities for building a new shipyard," the ministry said in a statement to sum up the results of Deputy Minister Oleg Ryazantsev’s visit to the country.
During his visit, Ryazantsev met with the Suez Canal Authority head, Adm. Osama Mounier Mohamed Rabie.
The Russian delegation comprised representatives of the Russian shipbuilding corporation AK Bars, which earlier signed a memorandum of cooperation with the Suez Canal Authority, and the Shipbuilding & Shiprepair Technology Center.
Ryazantsev also met with the Egyptian presidential advisor for seaports and projects at the Suez Canal area to discuss Russian-Egyptian cooperation in shipbuilding and repairs.