30 December 2012

Egypt: Suez Canal Regional Project to Bring in $100 Billion, Job Opportunities

Minister of Housing new urban communities Tarek Tawfiq said on Saturday that a project for developing towns around Suez canal region is underway which will secure one million Job opportunities and bring in over LE100 billion.

The project is envisaged to be a world industrial, logistic and service centre which includes all shipment services.

The minister added six Egyptian governorates including the Suez Canal towns, Sharqiya, and the Sinai twin governorates will be the first to benefit by the project's services.

Two pivotal ports in east Port Said and Al Ain Al-Sokhan will be built, as well as housing units in service of companies and people concerned," he said.

Ten world companies have applied to take part in that project, which will also include setting up factories to train the people in Sinai to work therein.

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