Suez Canal Axis Development Project May Delay For 8 Months: Wafiq

Dr. Tarek Wafiq, Egypt’s Housing and Urban Communities Minister, has asserted that Developing Suez Canal Axis project may be postponed for a period ranging between 7 or 8 months until it will be discussed by the global Consulting offices.

The Minister has explained that the economic vision of the project is very clear and specializes in developing transporting goods and cargo mechanism which passing through Suez Canal.

Wafiq has pointed out that Suez Canal Project is not related to Egypt’s watercourse but it focuses on developing transporting in Suez Canal.

Wafiq added that Egypt’s population concentrated in a narrow space and leaving the important resources, the country’s economy will raise for incomparable mightiest nations world, pointing out that the resources of Egypt’s climate won’t be affected including North West Coast zone, mineral resources and the volume of lands that may be exploited in global projects.

Wafiq said the final draft of Shura Council legislative committee which is discussing Suez Canal project will decide to resolve the controversy around the fears of project.

Wafiq added that the Suez Canal project deals with the international companies and allows for participating the project throughout investments according to specific conditions that will be put by the country.

Moreover, Wafiq added the authority of the project have reached to 27 alliance for large number of companies which will be entrusted with the project’s investment.