Toshka attracts more investors

The Toshka development project is still attracting more international investors, Minister of Water Resources and Irrigation, Dr. Mahmoud Abu Zeid said.

Negotiations are going on with a group of Greek investors to establish a new project on 200,000 feddans in Toshka according to terms laid down by the ministry regarding the local labor and component in the manufacturing process.

Work on the third phase of Sheikh Zayed Canal will start shortly financed the united Arab Emirates at a cost of $ 100 million, the Minister said at a celebration marking the 30th Anniversary of the High Dam and the Third Anniversary of the Southern Valley project.

An agreement was reached with a major Dutch Company, specialized in digging operations to execute the project in cooperation with an Egyptian consultative office, the Minister noted.

Concrete pillars of the colossal Mubarak pumping station are being constructed with hi-tech equipment, with a view to protecting the station from severe earthquakes, Dr. Abu Zeid said.