Huge investment opportunities of New Suez Canal unveiled

Minister of Supply and Internal Trade Dr Khaled Hefny and his accompanying delegation, currently on a visit to the US, held a series of meetings with members of Chicago Chamber of Commerce, the Egyptian community and Egypt's consul general in Chicago.
During the meetings, the minister reviewed the huge investment opportunities of the New Suez Canal project that will help give a strong impetus to Egypt's economic growth, provide millions of job opportunities and increase the canal revenues of hard currency, a statement released by the Ministry of Supply and Internal Trade said.
He said the project will include establishing a desert hinterland where industrial and tourist locations will be established in addition to new residential compounds.
The minister, who was accompanied by a delegation of representatives of the Armed Forces, the Cabinet and the Arab Contractors Company, visited the Chicago Mercantile Exchange to get posted on its operation mechanism in preparation for setting a similar bourse, to be the first of its kind in Egypt and the Middle East.
The minister also held a meeting with chief of Bloomberg company in Iowa State to agree on carrying out three mega projects that will be designed to help in the wheat storage at a cost of dlrs 3.206 billion.
The first project aims at establishing a storage and modern logistics factory at a cost of dlrs 100 million to serve local market and export products to Arab and African states. The second project will be designed to set up 10 logistic areas to help preserve fruits and vegetables to reduce their production costs and consequently selling them at affordable prices, read the statement.
The third project, that will be worth EGP 1.381 billion, will work on upgrading 163 wheat silos to adopt international standards in the storage techniques, added the statement.
Source: MENA