Suez Canal Industrial Investors syndicate to invest $1B
Suez Canal - YOUM7 (Archive)

CAIRO: The Suez Canal Industrial Investors Syndicate plans to establish five investment projects worth $1 billion to develop the Suez Canal axis, Al Ahram news gate reported.

The project, in cooperation with Indian, U.A.E., and Austrian investors, would develop energy through solar power and geothermal energy, as well as establish a free trade zone, and aim to attract populations from high-density areas, Ahram reported.

Al Borsa reported Naema Moheb, the General Manager of Ismailia governorate’s Technology Valley, announced that in June 22 state-owned companies are scheduled to start executing 22 projects at the valley by the beginning of 2015 of total value up to  286 million EGP.

“All of the 22 companies will execute Hi-Technology projects,” she said, adding that Egypt has the raw material of such industries in Sinai region  like silicon and silica, Al Borsa reported.

The Technology Valley occupies 16,500acres and the five other pre-mentioned projects will establish logistic and economic centers in three main regions Port Said’s port region and the economic region in the Suez governorate, Masrawy reported.

Prime Minister Ibrahim Mahlab announced in May thatdeveloping Suez Canal Axis will top the ministerial committee’s concern in the upcoming period.

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