Italian companies eager to invest in Suez Canal project

(AGI) Cairo - Italian companies are eager to getinvolved in the development of the Suez Canal. A total of 62Italian firms  [...]

Italian companies eager to invest in Suez Canal project
(AGI) Cairo, March 10 - Italian companies are eager to getinvolved in the development of the Suez Canal. A total of 62Italian firms have already indicated their willingness toinvest in the Suez Canal Corridor Area Project, which will bepresented at the economic summit in Sharm el Sheikh from Fridayto Sunday. The news was confirmed on CBC television by thechairman of the Suez Canal Authority (SCA), Mohab Mamish, whovisited Milan eleven days ago along with Egyptian InvestmentMinister Ashraf Salman. "In the coming days we will take stockof the companies that want to participate in the project," saidMamish. Egypt is creating a new 72-kilometre channel parallelto the existing canal, almost doubling the infrastructure'scapacity from 49 to 97 ships per day. The first ship willtravel the new channel in August, said Mamish, adding that theproject will increase Egypt's revenues from the Suez Canal by259 percent. .