The final plan of the new massive economic development project in the Suez Canal region will be announced within two weeks.
The remark was announced by Yehia Hussein, Chairman of Global engineering firm Dar al Handasah, which was chosen out of 14 international firms that met the tender specifications to develop an international industrial and logistics hub in the Suez Canal area.
Speaking at the US Chamber of Commerce in Cairo Sunday, Hussein said that the plan focused on the ability to transfer the area into an industrial and logistical global center.
The volume of investment in the utilities sector reaches up to 15 billion dollars along with establishing electricity stations at total investments hitting about 6 billion dollars, he added.
The project aims to provide about 1 billion jobs within 15 years, he went on to say.
President of the US Chamber of Commerce Anis Aclimandos, for his part, said that the Suez Canal Axis Development Project will promote economic growth within the upcoming period and will boost volume of trade with various world countries.
Countries which work in field of container trade give due importance to doing business in this area, he added.
Meanwhile, legal adviser of the Suez Canal Axis Development Project Hani Serry said that the most suitable law to invest in this area is the Special Economic Zones Law.
Amendments have been made on the law and it will be reviewed by the cabinet within a week for endorsement in the upcoming period, he added.
The project aims at expanding the Suez Canal region's role as a global, industrial, and logistics center that is environmentally balanced with an integrated economy.
It is also projected to become a global hub due to its logistics and industrial services.