Huge development project launched in Egypt
19 April 2011
Tuesday April 12: Egyptian prime minister, Essam Charaf, has announced the launch of the "development corridor".
The huge development program, extending over 1,200 km from Alexandria to Aswan, covers the construction of infrastructures for urban, agricultural and commercial growth.
It consists in particular of the construction of a highway and of secondary roads, together with water pipelines, reports the MAP press agency.
This will in time become one of the main transit routes for trade in Africa, following a line starting from Alexandria and ending at Cape Town, South Africa.
The project is to be implemented in two phases over ten years and will be launched within the next six months, explained Mr. Charaf.
The development corridor, at an estimated cost of 24 billion dollars, will be financed by means of a public subscription and Arab and foreign investors.