Special to WorldTribune.com
CAIRO — Egypt has awarded contracts to Gulf Arab companies for the expansion of the Suez Canal.
Egypt said it could complete Suez expansion by 2016.
The Cairo government has awarded major contracts for the construction of a parallel canal in Suez to companies from several Gulf Cooperation Council states. They included firms from Bahrain and Saudi Arabia.
“The winning consortium to create the master plan for the Suez Canal area development project is the consortium of Dar Al Handasah Shair and Partners, which is registered in Bahrain, in alliance with Dar Al Handasah Egypt,” Suez Canal Authority chairman Mohab Memish said.
At a news conference on Aug. 19, Memish, a senior army officer, said Dar Al Handash, a Saudi company, was selected among 14 bidders. He said Dar would work with prime contractor the Egyptian Army to develop industry and logistics in the canal area.
Under the $4 billion project, Egypt would oversee a second passage that would join with an expanded Suez Canal. The new passage would span 35 kilometers and could be completed by 2016.
