Kandil Invites Turkey to Invest in Suez Canal Development

Egyptian Prime Minister Hesham Kandil called on Turkish businessmen to invest in the Suez Canal, one of the world’s the most important waterways, as the Egyptian government wants to turn the canal into a “development corridor” by establishing industrial zones on the left and right banks of the canal.

“The Suez Canal’s contribution to the Egyptian economy only from fees from ships passing by is like 5.6 billion dollars a year. But with industries in the right and left side banks of the canal and plus with logistical services, we think we can go up to 100 billion a year,” stated Kandil.

Another issue Kandil raised during his meetings was the possibility of the contribution of Turkish businessmen to the Suez Canal project of Egypt, to which two tunnels will be added.

[mappress]

Source: egypt, May 14, 2013