More than LE 80B required to develop East Port Said Port: Sisi

PORT SAID, Egypt – 17 March 2018: President Abdel Fatah al-Sisi said Saturday that developing East Port Said Port would require more than LE 80 billion.

During his inspection visit to Port Said Governorate, Sisi said that developing the East Port Said Port and its vicinity came as part of Egypt’s efforts to support the development process in Sinai, according to presidential spokesman Bassam Rady.

He was posted by Port Said Governor Adel el-Ghadban on socio-economic achievements accomplished in the past few years including efforts to develop slum areas and raise the living condition of its dwellers, open new factories and inaugurate the first complex for small industries to generate jobs for the youths, Rady said.

The president was briefed by Chairman of the Suez Canal Authority and Head of the Suez Canal Economic Zone Mohab Mamish on the progress of the East Port Said Port project and its strategic importance for the economic zone of the Suez Canal, pointing to the strategic location of the port and its associated logistic, industrial and residential areas, Rady also said.

He said Mamish expects the East Port Said Port to become one of the largest and specialized ports in container handling, noting that the project aims to maximize Egypt's economic benefits from the crossing of about 10 percent of global trade and 25 percent of the containers in the world through the Suez Canal.

The chairman of the Suez Canal Authority also reviewed the ongoing efforts to implement the Suez Canal Corridor Development plans and the progress of work in the East Port Said Port project, pointing out that more than half of the area allocated for the industrial zone is being developed, the spokesman added.