PORT SAID: According to the World Bank, Port Said is the fastest growing port in the world, said head of the Federation of Economic Development Associations Fouad Thabet in an interview Saturday.
Port Said’s port is being developed so that in four years it can accommodate ships that can hold about 110,000 containers, Thabet told The Cairo Post. The ships would unload their cargo at the port and smaller ships would carry them through the Suez Canal to decrease the amount of canal fees, which would encourage many smaller ships to come through Port Said’s port, Thabet explained.
He added that Port Said City will have about 60 percent of the development of the Suez Canal axis development project, as it is the top of the development triangle for the project. The port is currently being prepared by having its depth increased to be able to receive large mother ships, he said.
Port Said Container and Cargo Handling Company will establish a third pier at Port Said East Port after the second pier’s length is extended to more than two kilometers, he said.
Regarding the Marina yacht project, the feasibility and structural studies for the project were conducted by Dr. Mostafa Kamel and Dr. Samir Makary in 2008, he said, and its execution depended mostly on French yachts and the establishment of a maintenance pier, which would create new job opportunities and would encourage tourism. Unfortunately the project was stopped for no reason, he said.
Egypt has many resources that could be used to enhance its economy, he added.