Third factory nearing completion at Safaga shipyard, Suez Canal chief says
Osama Rabie told a business meeting the South Red Sea shipyard, once a small yacht repair workshop, now runs two factories and has exported two marine tugs, with two more on contract.
5 November 2026
A third factory is nearing completion at the South Red Sea shipyard in Safaga, built to make tourist yachts and marine tugs, the chairman of the Suez Canal Authority has said.
Osama Rabie told a meeting organised by the Egyptian Businessmen's Association that the Safaga yard already operates two factories. He said it grew out of a small workshop for repairing and maintaining yachts into an integrated industrial shipyard, run as a partnership between the public and private sectors.
The yard has exported two marine tugs and holds contracts to build two more, he said, alongside work on tugs and fishing vessels. Amwal Al-Ghad reported his remarks as a plan to turn the site within two and a half years into a shipyard of international standard, with marine berths, expanded operating areas and three factories.