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Egyptian government picks three companies to value Suez Canal Economic Zone

Egyptian government picks three companies to value Suez Canal Economic Zone

Misr Capital, Al Nour Consulting Group, and Global Appraisal Tech have been selected by the Egyptian government to carry out a valuation of the Suez Canal Economic Zone as investors await the evaluation to start case studies on possible projects.

The companies have already started the valuation according to government officials.

"These companies will handle an enormous task that may take a long time, but work will begin urgently as a first stage in Ain Sokhna, East Port Said and El Qantarah in Ismailia," stated Ahmed Darwish, the chairperson of The Suez Canal Economic Zone Authority.
 
Several investors had previously said that they were waiting for the exact land prices of various areas in the Economic Zone so that they can start studies on possible projects, said the report.

President Abdel Fattah Al-Sisi issued a presidential decree in August 2015 announcing the establishment of the Suez Canal Economic Zone to be on an area of 460.6 cu km as a special economic area, according to the Economic Zones Law No 83/2002 that was amended to suit the nature of the area.

As per the decree, six ports are affiliated to the Suez Canal Economic Zone: West and East Port Said, Ain Sokhna, Adabia, Al-Arish, and El Tor.

www.suezcanal.gov.eg

 

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