Egyptian Union In KSA Discuss Possibility of Contributing To Suez Canal Project

Dr. Waleed Abdel Ghaffar, Head of Technical Committee for Suez Canal Corridor, stated that a delegation takes in the members of the association of Egyptians working in Saudi Arabia will visit Cairo this week to discuss the possibility of contributing and supporting the expectant ventures in Suez Canal Corridor.

Abdel Ghaffar explained that the Egyptians who work in the KSA showed their willingness, during their visit last week, to support the Suez Canal Corridor Development project.

He referred that the Ministry of Transport has visited lately “Macao” city in China in order to invite the Chinese businessmen to take part in the investment conference, with the attendance of 50 Chinese investors, so that they can review the general scheme of the project and the expectant investment ventures.

The project of developing Suez Canal corridor receives an international attention as Egypt was invited to visit Saudi Arabia, Holland, England and Riyadh so as to review the project as well a the investment opportunities.

He also referred that the deadline of admission of the international and Egyptian offices for the project’s scheme was 30 May 2013. And on July, 5 international offices with Egyptian partnership will be selected and the final signature would be at the beginning of September.

The project is expected to achieve revenues at value of $ 100 billion through several phases. The first phase starts with investments range between $10-15 billion.