International offers for establishing a tunnel under Suez Canal

The Egyptian governorate of Port Said is currently conducting feasibility studies for establishing a tunnel under the Suez Canal south of Port Said at a cost of 400 million pounds.

General Mostafa Sadek, governor of Port Said today told ArabicNews.com that the governorate received 10 international offers for establishing this tunnel, adding that the investor group Shark El-Tafria area will pay half of the costs with the executive companies.

Sadek added that this project will be run on the B.O.T (build-operate-transfer) system and aims at serving the new industrial zones in Port Said and the project of Port Said's market for international free trade and developing northern Sinai.