President reviews development in mega projects
Egypt's President Hosni Mubarak yesterday held an expanded meeting with senior aides on the implementation of a major development project in Eastern Port Said.
During the meeting Prime Minister Atef Ebeid presented a comprehensive report on the scheme of building a major port and infrastructure facilities to be carried out as scheduled. Housing Minister Mohamed Ibrahim Soliman reviewed the situation of eleven investment companies to which plots of land were given for development in the area.
Ebeid said that some companies had not taken "serious" steps to develop the parcels of land handed to them, estimated at an overall 43 million square meters.
Mubarak also reviewed a report on supplying the area with 17,000 cubic meters of water daily on a temporary basis to meet the needs of construction works in the area.
Discussions focused on a project to provide the area with regular water supplies estimated at 600,000 cubic meters per day through a project to be built on a B.O.T. (Build, Operate and Transfer) basis.
Transport Minister Ibrahim el-Demeri briefed the meeting on phases of building the Eastern Port Said Harbor.
He said that the first stage would be completed in March 2002, including quays to handle container vessels. The Electricity Ministry is building a power station to feed the LE1.5 billion harbor.
"President Mubarak will hold another meeting next week for discussions on a major development project underway northwest off the Gulf of Suez," said Information Minister Safwat el-Sherif in a briefing to the press following yesterday's meeting.
After listening to follow-up reports on the scheme, Mubarak directed areas of land allocated to investment firms be reconsidered.
He also instructed the government to study establishment of a company to which the private sector will also contribute.
The envisaged company will be assigned with the creation of a free zone planned in the area, its infrastructure facilities and promotion of parcels of land ready for investment.