14 international firms selected so far to develop massive Suez Canal project
The Egyptian government announced on Monday that 14 international firms have met the tender specifications for a massive economic development project targeting the Suez Canal region. Out of 46 applications, 33 consortia were qualified according to the project's specifications, while 14 were picked as among the best applicants. The winner will be declared by mid-2014.
At a press conference on Monday attended by Prime Minister Hazem El-Beblawi, head of the Suez Canal Authority Mohab Memish, who is tasked with managing the projects, outlined the details of the long-awaited development plans.The project, which retains many of the features of a planned project under the government of former president Mohamed Morsi, includes the development of four seaports in the three canal-bordering provinces – Suez, Ismailia and Port Said – in addition to a seaport in Al-Arish, the capital of North Sinai governorate.
It will also feature a number of large-scale projects, including a 'Technology Valley' in Ismailia which will host several technology projects along with a new industrial zone west of the Gulf of Suez.
Work will begin on the infrastructure of the project in 2015.
- Good news for Dubai's real estate as deals boosted by $31 billion
- Sale prices in Abu Dhabi's residential property sector up by 17 percent in H1
- Unholy spending? Luxury leasing options on the rise in Mecca
- Ajman: a viable, more affordable property market?
- Putting things in perspective: how many apartments in the Middle East can Ronaldo buy with his World Cup salary?
- High bids, higher stakes: Winner of massive Suez Canal tender to be announced next month
- Morsi would be proud: An inside look into how foreign firms will profit off the Seuz Canal
- Suez Canal vessel capacity expanded
- A wider and deeper Suez canal
- Egypt to finalize tender for Suez Canal development, but this time along, Qatar stands no chance