Egypt’s President Abdel Fatah al-Sisi said on Tuesday the total cost of June 30 axis road flagship is worth around 8.5 billion Egyptian pounds ($527.3 million), according to Egypt Today.
Sisi made these remarks during the inauguration of the June 30 axis via video conference.
“The development of East Port Said has been on the table for 15 years, but it has been postponed due to the large amount of funds required. He added that this project required infrastructure to serve it, including the land in East Port Said,” he said.
“Egypt worked on several road axes from and to the Suez Canal with huge efforts and large costs to have four industrial zones there and to facilitate the movement of traffic to and from the region,” Sisi explained.
“Funds spent in the region amount to LE 150 billion,” Sisi stated.
Housing Minister Assem el-Gazzar said that the June 30 axis is set to activate the internal trade movement, enhance the interdependence between four regions and reduce the journey time between the canal cities and Cairo. This is in addition to increasing the rate of safety and achieving the competitive advantage of the land,maximizing its economic value.
Gazzar added that the June 30 axis was jointly implemented by 50 national companies and 75,000 workers.
Sisi inaugurated Tuesday a number of national projects in Port Said and North Sinai governorates.
The projects include July 3 tunnels in Port Said, which is one of the major national projects, as it links south Port Said with Sinai, besides connecting west of canal cities with its eastern parts with the aim to facilitate trade movement in Suez Canal regional area.