Egypt seeks foreign investments worth $10 b to develop Sharm Al Sheikh port
The Sharm al Sheikh Port
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CAIRO: Egypt is seeking foreign investments worth of $10 billion to develop Sharm el Sheikh Port, Hesham Abu Senna, the head of Red Sea Port Authority told Youm7 Saturday.

The development plan includes the establishment of a touristic resort and marina for yachts, said Abu Senna, noting that the authority is considering several designs for the project, expected to be completed within a year.

He also announced that the authority will establish other three ports along the Red Sea; one in Tur Sinai with 140 million EGP (around $15 million) in investments.

The second and third ports will be built with at total cost estimated at 300 million EGP in investments in the disputed Halaib and Shalateen triangle, located on Egypt’s southwest borders with Sudan, he added.

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