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Infrastructure Projects in Egypt

  • Nile dam meetings in Sudan extended for extra day, deal might be reached

    EGYPT, 2016/01/03 Foreign and water ministers of Sudan, Egypt and Ethiopia on Monday decided to extend their ongoing meetings in Khartoum on the Grand Ethiopian Renaissance Dam (GERD) for one additional day, while a Sudanese minister expected a comprehensive transaction may be reached. The ministers of the three nations on Monday held a conference that continued for around 13 hours where the meetings were scheduled to end Monday with issuance of a joint communique. "It has been decided to extend the meetings to Tuesday," Ibrahim Ghandour, Sudan's Foreign Minister, told reporters at the end of the meetings today.
  • Suez Canal Investment Certificates to Be Released On Monday

    EGYPT, 2014/08/31 Egypt will issue the new Suez Canal investment certificates on Monday, September 1, national-run MENA agency reported, adding that the certificates will have a 12 % yearly interest rate and quarterly dividends. The four banks of Banque Misr, Banque du Caire, the National Bank of Egypt, and the Suez Canal Bank are the only banks granted the right to issue the certificates, MENA added. The banks will as well issue certificates in US dollars with a 3.5 % yearly interest rate and quarterly dividends.
  • President Abdel Fattah al-Sisi launched Tuesday the construction of a $4 billion "new Suez Canal"

    EGYPT, 2014/08/07 President Abdel Fattah al-Sisi launched Tuesday the construction of a $4 billion "new Suez Canal" that aims to speed up traffic along the existing waterway and boost Egypt's battered economy. The project foresees the creation of one million jobs at a time at the same time as Egypt is struggling to recover from additional than three years of political turmoil since the ouster of long-time autocrat Hosni Mubarak. Sisi, accompanied by government ministers and army generals, set an ambitious target of digging the new canal, which would run parallel to the original Suez Canal built 145 years ago.