• 21:28
  • Monday ,04 August 2014
العربية

Egypt awards Suez hub project to consortium that includes army

By-ynetnews

Home News

00:08

Monday ,04 August 2014

Egypt awards Suez hub project to consortium that includes army

Egypt has a chosen a consortium that includes the Egyptian army and global engineering firm Dar al-Handasah to develop an international industrial and logistics hub in the Suez Canal area, government and military sources said on Sunday. 

The Suez Canal is the fastest shipping route between Europe and Asia and brings in around $5 billion of revenues per year, a vital source of hard currency for Egypt which has suffered a slump in tourism and foreign investment since a 2011 uprising.