Investment Minister Ashraf Salman said there 45 projects that will be offered to Saudi investors after the opening of the New Suez Canal, including projects for oil refineries and water desalination stations.
According to the Saudi newspaper Okaz, President Abdel Fattah al-Sisi will announce in his opening speech the launching of seven new national projects, including the development of the Suez Canal axis, building roads, aquaculture development, the cultivation of a million new acres, a logistics center in Damietta and a the development of the East Port Said Port.
Salman told Okaz that the Egyptian government is allocating an industrial zone with a complete infrastructure for mega industrial projects, at the request of Saudi businessmen, including three tunnels to connect the two sides of the channel, a rail tunnel and a road network to connect the area with Cairo.
Other projects include trade zones in Ismailia and Suez for tourist resorts on the banks of the Suez Canal, food industries, fisheries, mechanical and electrical industries, building materials, mining industries and a petrochemical plant, expecting Arab and international investments in the Suez Canal region to reach US$100 billion by 2023.
Edited translation from Al-Masry Al-Youm
