Committee on East Port-Said Area

Prime Minister, Dr. Kamal Al-Ganzoury, held meeting on development of East Port-Said area, in attendance of Ministers of Planning, Housing, Transport, Finance, and Environment, Port-Said Governor, General Secretary of the Cabinet of Ministers, Head of the Urban Planning Authority, Head of the State Lands Usage and Head of the Industrial Development Authority.

The meeting reviewed detailed planning suggested for East Port-Said, where Dr. Al-Ganzoury called for taking required procedures to start the mega project enforcement namely establishment of urban, industrial, agricultural, tourism, trade and logistic zone at East Port-Said. The project has mega returns on the Egyptian economy, and on Suez Canal line cities, and will provide promising jobs for youth and graduates. The Ministry of Housing prepared the plan through a study including integrated plan to manage the project and component and enforcement mechanism. The project has enforced by some countries such Singapore, Malaysia, and KSA. The project includes million housing city, containers and goods transit, logistic, business center, and tourism, urban, industrial, and fish farms’ areas.

The project will be offered for public subscription for Egyptians especially youth by 35% to be supervised by the state and 35% for investors, as well as establishment of another company for the financial structure of the project and the state shall own 30%, and 35% of the holding company capital. Upon the project establishment, the place will be largest trade and logistic one worldwide and Dr. Al-Ganzoury directed for holding small committee to study such project. The committee shall set general perception for mechanism implementing the project to be presented to him within week.

The Housing Minister said that East Port-Said will be greater investment zone which links Asian markets of higher productive skills with Middle East and EU markets. The zone also enjoys skilled Egyptian employees, of area 300 km2 where 180 km2 will be developed and part of it will be allocated for fish planting. The area of the housing city to be established reaches 4000 acres, and the industrial zone reach 10,000 acres, fish planting area and entertainment area reach 12,000 and free zone of 2300 acres. The area will also include center for ships and containers maintenance, exhibitions centers, conferences, and scientific activities city.

Port-Said Governor stated that the project will take several years, and the first phase will include the industrial zone, million city, economic projects, and 2nd phase of containers terminal at East Port-Said Port. By the end of the current year, a global auction will be offered for establishment of tunnel below Suez Canal and South Port-Said at k 19 to link west and east canal.