World Economy

Suez Project to Cost $15b

Suez Project to Cost $15bSuez Project to Cost $15b

The infrastructure cost of the Suez Canal development project in Egypt is likely to reach $15b, said a top official, adding that the comprehensive project plan will be announced within two weeks, TradeArabia reported. The electricity supplied to the project is expected to be 6GW, Yehia Zaki, director of operations at Dar Al-Handasah Consultants, said. Under the project, irrigation water will be supplied to about 3.5m sq m of land, he added. The Suez Canal project, which is aimed at expanding trade between Europe and Asia, includes the development of 76,000 sq km around the canal into an international industrial and logistics hub to attract more ships and generate income.