20 August 2014

Egypt: Dar Al-Handassa Wins Suez Canal Development Bid

During a ceremony that was attended by Prime Minister Ibrahim Mahlab and nine ministers, the Chairman of the Suez Canal Authority and Head of the Executive Council of the New Suez Canal Project, Vice-Admiral Mohab Mamish, said the Egyptian-Bahraini Dar Al-Handassa consortium won the contract of carrying out the landscape of the Suez Canal Development Project.

He said the winner consortium has l93 branches in 46 countries and ranks eighth among world consultant houses. The consortium has offered consultations for nearly 850 projects this year at aggregate investments of $ 290 billion.

Mamish said the winner consortium will draw up the landscape of the project in a period of 6-8 months and will submit it to the ministerial committee which will put it for societal dialogue.

He said a number of activities and projects will be carried out within the framework of the project, including car assembly, glass, medicines, electronics, textiles, furniture, sugar and petrochemicals projects.

He also said vessel supply and services, ship building and containers maintenance centers would be set up.

For his part, PM Mahlab said Egypt is witnessing a new dawn, adding that the country has a leader who has his own vision and a people who will make accomplishments.

Mahlab said what took place over the past two months confirmed the fact that the vision of Egypt's leadership is linked to a development plan, in a clear reference to the Suez Canal development project and the building of 3,000 kilometers of roads.

He said the Egyptian labor is working round-the-clock in the project which will provide one million job opportunities. He also stressed the importance of upgrading industrial and technical education as the only way for overcoming joblessness.

As for funding the digging works of the new Suez Canal, Mahlab said it will be made through public subscription, government financing, national investors and national banks.

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