Nepotism much? Egypt selects Saudi consultancy to draw Suez plan
The Suez Canal is a main source of income for Egypt, generating annual revenues of $5 billion.
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Egypt has selected a Saudi consultancy to draw up the plan for the government's mega project to transform the Suez Canal waterway into a hub of international investment and free trade zones.
Suez Canal Authority chief Moheeb Mamish announced in Cairo Tuesday that the Saudi Dar al-Handasah - a leading Mideast design, architecture and engineering consultancy - was chosen among 14 candidates.
The project is separate from another mega project for the Suez Canal, unveiled by President Abdel-Fattah al-Sisi earlier this month and which involves the expansion of waterway.
In that project, the Egyptian military and local companies would dig out a new, 35 kilometer segment of the waterway.
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