The Suez Canal corridor project

The Suez Canal corridor project planned by a consortium led by Dar Al-Handasah will cost $220 billion over 15 years, said Ashraf Salman, Egypt’s investment minister, at the Euromoney conference in Cairo on Tuesday.

 

The plan is to establish development projects along a 160 km corridor of barren desert beside the international waterway, including logistics and industrial hubs.

A wider Suez Canal development plan began last month with digging a parallel waterway to increase ship traffic.

The new waterway will add at least $2-5 billion in the coming three years to the state budget, Salman said at the conference.

The digging of the new canal and underground tunnels costs $4 billion which were raised by the government through public offering of investment certificates.

Source: ahramonline, Sept. 17, 2014

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s