New Committee to discuss available investments in Suez Canal Axis

Egyptian Union for Investors Associations is to form a committee to discuss planned investment projects in Suez Canal Axis Development area, head Mohamed Farid Khamis said Monday.

The committee will make the executive steps in such projects within the upcoming period, Khamis told Amwal Al Ghad.

The union is set to hold a meeting with project’s legal consultant Hani Sarie-Eldin in the upcoming days to talk about all details of the investment projects set to be established in the axis, the head stated.

The official clarified that the union has not decided yet whether to participate in the development project through a contribution from a holding company including businessmen or through urging to allocate determined plots to construct new industrial zones in the project.

Khamis stated that the investors will get good facilities; related to allocating plots and the procedures of founding firms, in order to implement new large projects in the axis.

The head further asserted that the union will set up holding company to invest in Suez Canal with initial capital estimated at one billion Egyptian pounds.

Moreover, Khamis said the union will hold promotional meetings for foreign investors to present the investment opportunities available in Suez Canal axis.