CAIRO: Interim Prime Minister Ibrahim Mahlab inaugurated Wednesday the National Institution for Aquiculture in the Suez Canal governorate, according to the Cabinet homepage.
Mahlab also headed the ministerial committee conference to assess the development of the National Project for Developing the Suez Canal Axis, and he witnessed the launch of three homemade maritime locomotives that will serve at the Suez Canal.
The aquiculture institute is scheduled to operate in cooperation with China, at a cost of 40 million EGP ($5.63 million) to produce 10 million fish yearly, extending 120 km, from Port Said to the Gulf of Suez.
This plan to develop the Suez Canal Axis and establish a logistic region was developed under the rule of former president Mohammed Morsi and his Cabinet headed by Hisham Qandil.
“Developing Suez Canal Axis will top the ministerial committee’s concern in the upcoming period” Mahlab said, adding that the ministerial committee is currently coordinating with number of international and local finance bodies to finish the project, Al Maal Business Daily reported.
Mahlab also praised the World Bank Initiative to participate on developing Suez Canal axis.
“The World Bank will not hesitate in providing technical support along with the needed financing to finish the project,” Hartvig Schafer, the regional manager for the World Bank confirmed during the Ministerial Committee conference in Ismailia, Al Maal reported.