Egypt: Suez Canal Project to Attract Foreign Investments

Chairman of the Suez Canal Authority Mohab Memish said that the project of “Suez Canal Axis” will be developed in a way that allows accelerating the growth rate in the region as well as attracting Arab and foreign investments to take part in the implementation of the project.

He said that the name of Suez Canal project will be changed to the “Two Poles” referring to Ain Sokhna Port, where the first phase of the project kicks off, and Port Said harbor, where the project ends.

Memish added that the next period will witness a major role for the Suez Canal Authority after drafting the required legislations on this score, noting that a legislative amendment is underway to give the Authority a full supervision over the project.

[mappress]

Press Release, September 9, 2013