Egypt: Huge Turnout Expected for Suez Canal Certificates

Governor of the Central Bank of Egypt (CBE) Hisham Ramez announced on Sunday issuance of investment certificates for the New Suez Canal Project.

Ramez said that Cabinet’s economic group has agreed on issuing investment certificates of the New Suez Canal project and that the issue was raised to President Abdel Fattah El Sisi. He expected that purchase process of the certificates will witness a huge turnout from Egyptians.

The National Bank of Egypt, Banque Misr, Banque du Caire and Suez Canal Bank are the banks entitled to issue the new certificates. The certificates will be released in 10, 100 and 1,000 Egyptian pounds, which will offer an interest rate paid every three months.

Banks issuing the certificates will not charge additional expenses or commissions for issuing the certificates for clients.

Speaking during a press conference, CBE Governor expected that many Egyptians will buy investment certificates, which will be issued for the new Suez Canal project.

He further said that citizens are now selling dollars and transfer them to Egyptian currency to buy investment certificates in the new Suez Canal project. “Egyptians are keen on contributing to the new Suez Canal project,” he went on to say.

He also said that the investment certificates are guaranteed, pointing out that returns of 12% are higher than the market rate.

Press Release, September 2, 2014

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2019 Western Dredging Association Gulf Coast Chapter Annual Meeting

The meeting will provide a forum for the exchange of information of interest to the dredging industry and its associates.

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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