Finland to secure €305mn loan to build Egypt’s East Port Said fish farm

Egypt has received two dredgers as part of a €305 million soft loan from Finland designated to build a major fish farm in East Port Said region.

The loan involves the supply of four dredgers from Finland to carry out a project adopted by the Egyptian Ministry of Agriculture.

Following a meeting Wednesday with Tuula Yrjölä – Finland’s ambassador to Cairo, Egyptian Minister of International Cooperation Sahar Nasr said the fish farm would be built over 23,000 feddans near Port Fouad city.

The farm is set to produce around 85,000 tonnes of fish per year, she added.