Dar Al-Handassa Nabs Suez Canal Development Contract

During a ceremony 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 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 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.

Press Release, August 20, 2014

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