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New Suez Canal Project: Turn Suez Canal into an Integrated Development Area

Source: www.gulfoilandgas.com 8/7/2016, Location: Egypt

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Prime Minister Sherif Ismail congratulated the Egyptian people and the Armed Forces on the anniversary of the July 23 Revolution.

Attending the ceremony marking the 60th anniversary of the nationalization of the Suez Canal and the first anniversary of the inauguration of the New Suez Canal, Ismail said "we are celebrating 60 years since the nationalization of the Suez Canal". He added that this very same spot provided another example of Egyptian achievement, the New Suez Canal that is.

The New Suez Canal is only the start of a national project to develop the canal region, the premier said.

This mega project is meant to turn the Suez Canal into an integrated development area, which includes industrial, trade, logistical and residential zones. It will secure thousands of jobs for youth," Ismail added.

The plan is to develop 460 square kilometers in the Suez region, he made it clear.

The Suez region is an economic zone of a special nature, Ismail said, adding that it has been divided into three major areas.

The first area is Port Said, the premier said, noting that East Port Said has been designed to be an extension of Port Said city and harbor.

East Port Said includes a maritime port, a 40mn-square-meter industrial zone and a 30mn-square-meter logistics area, the prime minister explained.

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