Nasr, Mamish discuss pumping investments in Suez Canal axis development project

Investment and International Cooperation Minister Sahr Nasr had a meeting on Monday with Head of the Suez Canal Authority (SCA) Mohab Mamish on pumping new investments in the Suez Canal Axis Development Project in line with President Abdel Fattah El Sisi's directives. 

During the meeting, Nasr said the Investment Ministry is taking a number of measures and steps to beef up investments in the Suez Canal region within the framework of the ministry's overall investment map.

Developing ports and improving services in the Suez Canal Axis Development region is necessary to lure more investments in this region, she added.

Mamish, for his part, posted Nasr on a plan to develop the six existing harbors; West Port Said, East Port Said, Ain Sokhna, El Arish, El Tor and Adabiya, in the Suez Canal zone and the application of the electronic system in these ports.

The two sides also agreed on removing obstacles to a project to construct Egypt’s first private bulk liquids terminal at Ain Sokhna port on the Red Sea for the import and storage of oil, butane gas and LNG to Egypt. 

The project is carried out by the Suez Canal Authority, the Dubai-based DP World and Sonker Bunkering Company.

Source: MENA