French oil residue recycling firm Ecoslops has signed a Memorandum of Understanding (MoU) with the Suez Canal Economic Zone to start a detailed feasibility study on recovering vessel oil residues and recycling the material to new fuel.
There is potential to recover more than 40,000 metric tonnes (mt) of oil residuals from vessels transiting the Suez Canal every year, says Ecoslops.
The Suez Canal records 18,000 passages and 7,000 ports of call at the facility every year while the port of Alexandria generates more than 5,000 calls a year, resulting in “significant potential for waste generation”.
The development is a continuation of a Letter of Intent signed in March 2017 with Egyptian General Petroleum Corporation subsidiary SSCO and the Suez Canal Economic Zone to explore the regulatory, technical, financial and commercial aspects of the project.
“This project aims to contribute to increasing the competitiveness of the Suez Canal and Egyptian ports by providing a collection and waste treatment service of the highest international standards, as well as providing ship owners with essential traceability on their hydrocarbon waste,” notes Ecoslops.
“The goal of both parties is to complete this study by the 3rd quarter of 2018.”
Published: 24 January, 2018
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