A consortium of two companies Polaris Al Zamil and Ardak Development is set to finish the studies of the first phase to develop and utilise 5.5 million metre square of land in Ain Sokhna as part of Suez Canal Economic Zone next May.
Bassel Shoirah Polaris Al Zamil Deputy General Manager told Amwal Al Ghad that the project will be executed over several phases, starting with the development of 1 million square metres that will be finished within three years.
The project is set to be finished within 15 years, in addition the company seeks to attract investments of $3.5 billion.
On the other hand, its contracts have been signed on the side lines of the World Youth Forum in Sharm El-Sheikh.
The terminal will be used to import and store gasoil and liquefied petroleum gas in the third basin of Port Ain Sokhna.