Cairo: Egypt and Japan have entered into a USD 22 million (EGP 1 billion) grant agreement through the Japan International Cooperation Agency (JICA) to finance the construction of the first Dive Support Vessel (DSV) for the Suez Canal Authority.

According to State Information Service Egypt, the agreement was witnessed by Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, and Lieutenant General Osama Rabie, Chairman of the Suez Canal Authority, along with Japanese representatives. The project underscores the robust cooperation between Egypt and Japan and aims to bolster navigational safety, emergency response, and marine rescue capabilities in the Suez Canal, a critical passage for approximately 12% of global trade.

The environmentally friendly vessel will be constructed in Japan, utilizing advanced technology to enhance the canal's operational efficiency, safety, and strategic global standing. The vessel specifications include a length of 45 meters, a width of 10 meters, a draft of 4.5 meters, and a total displacement of 620 tons. It is designed to achieve a maximum speed of 12 knots and can accommodate 29 personnel. The construction will be supervised by the Japanese engineering and construction company NK, adhering to Safety of Life at Sea (SOLAS) requirements.

The exchange of letters related to this grant was signed in August between the Minister of Planning, Economic Development, and International Cooperation and the Ambassador of Japan to Egypt.