Sherif Oteifa, adviser to the investment minister, said that the government is assigning the Suez Canal Development Project to a group of international consultants this month.
“The consultant will complete the technical and marketing studies within six months,” Oteifa said.
According to Hisham Qandil's government under deposed President Mohamed Morsy, the project aims to develop the canal along with factories and logistical services to provide some US$100 billion in annual revenues. It is spread over Ismailia, Suez, Port Said and parts of Sinai.
Edited translation from Al-Masry Al-Youm
