Suez Canal authority announces 700 million dollar container terminal project within the project of developing Suez Canal corridor
Admiral Ibrahim Youssef, head of holding company for land and maritime transport stated that there are 32 company affiliated to the holding company are serving Suez Canal authority and are participating in four giant projects after the inauguration of the New Canal, Maritime Transport Sector said in its press release.
He also added that there is also a project for establishing a container terminal East Port Said governorate with a cost of 700 million dollar within the project of developing Suez Canal corridor pointing out that the project will be invited for in a public tender in order to start its implementation after the Canal inauguration celebration.
Youssef also assured that dredging of the new Canal and deepening of the old Suez Canal will lead to an increase in the number of vessels crossing the canal regardless of their size or volume. He also pointed out that the canal revenues will greatly increase to reach 13milliard and 500 million pounds within the coming 8 years till the beginning of the year 2023.