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Construction / Infrastructure in Egypt

  • Russia to establish industrial zone for Suez Canal in Egypt

    EGYPT, 2015/08/30 Russia is still determined to establish an industrial zone, and lend Russian expertise to build a nuclear power plant in Egypt, President Vladimir Putin said in a joint press conference with President Abdel-Fattah al-Sisi in Moscow on Wednesday. "We discussed several economic topics related to bilateral trade such as admitting [Egyptian] local currency in trade dealings within the Eurasian Economic Union," Putin said. Putin said the two leaders as well discussed increasing wheat exports to Egypt, which is the major Russian wheat importer.
  • 'New Suez Canal' Celebrations Echoed in Egypt's Capital

    EGYPT, 2015/08/07 A celebratory mood presided over Cairo's streets from the early hours of Thursday, as the country braced for the inauguration of the "New Suez Canal". Scores of citizens took to the streets, flaunting Egyptian flags of different sizes inclunding posters of President Abdel Fattah al-Sisi. Sisi meanwhile arrived to Ismailia on Thursday afternoon donning military fatigues aboard the 150 El-Mahrousa Yacht, the initial ship to pass through the Suez Canal next its inauguration in 1869. The president later changed into a civilian suit as he attended the inauguration ceremony.
  • Egyptian Presidential Hopeful Aims to Resolve Dam Dispute

    EGYPT, 2015/03/05 It is an audacious $4.8 billion project undertaken by one of the world's poorest nations. At the construction site in the Benishangul region of Ethiopia near the Sudanese border, some 8,500 workers are labouring tirelessly each day to build the gigantic Grand Ethiopian Renaissance Dam. At the same time as completed in 2017, the dam will generate 6,000 megawatts of electricity for domestic consumption and export. On the surface, the 558 ft tall dam -- Africa's biggest hydropower project -- belies Ethiopia's financial muscle. The GDP per capita in Ethiopia is only $475. The late Prime Minister Meles Zenawi, who laid the foundation stone in 2011, said the dam would be built without begging for money from donors. Since again, construction has progressed steadily using money from local taxes, donations and government bonds. Ethiopians abroad and at home contributed the initial $350 million, with government workers contributing amounts equivalent to a month of their salaries.
  • Egypt selected a consortium of Egyptian and the Persian Gulf companies

    EGYPT, 2014/08/21 Egypt selected a consortium of Egyptian and the Persian Gulf companies Tuesday to develop the government's mega project to transform the Suez Canal waterway into a hub of international investment and free trade zones, officials said. Egyptian authorities say the massive development plan is badly needed to help boost an economy that has been ravaged by three years of political turmoil. The Suez Canal is a key source of revenue for Egypt, bringing in around $5 billion annually. Canal Authority chief Moheeb Mamish said the Dar al-Handasah - a leading Mideast design, architecture and engineering consultancy registered in Bahrain - was chosen from 14 candidates to develop the project. He did not give the price tag for the project.
  • Construction of 150.000 Housing Units in Governorates in Egypt

    EGYPT, 2014/01/13 Minister of Local Development, Adel Labib said that the government has taken practical steps to face the housing crisis. Labib pointed out that the Armed Forces is currently constructing 100.000 housing units in various governorates. He added that 18 governorates have finalized allocating lands required for the construction of 50.000 housing units with a total cost of EGP 10.5 billion.