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Sisi decrees establishment of new economic zone near Suez Canal
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12 Aug 2015
Sisi decrees establishment of new economic zone near Suez Canal
President Abdel Fatah al-Sisi has issued a decree to establish a 460-square-kilometer economic zone in the Suez Canal area, Egypt’s official state gazette reported Tuesday.
The zone will be established in the area bounded by east and west Port Said ports, the al-Qantara industrial zone, the Technological Valley in Ismailia and ports of al-Adabia, Ain Sokhna Arish and El-Tor, according to the decree.
Suez Canal Authority Chairman Mohab Mamish will most likely be chairman of the new industrial zone, anonymous officials told al-Tahrir newspaper Tuesday.
The establishment of the industrial zone came a week after the inauguration of the New Suez Canal.
“The government will immediately start its implementation by developing the East Port Said area, including the expansion and development of East Port Said harbor and the industrial area around it,” Sisi said in his inaugural speech.
On Saturday, Egypt started the dredging works of a new 9.5 kilometer-long shipping lane in East Port Said to facilitate international trade maritime navigation.
By THE CAIRO POST
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