Developers have completed 6.8 km of the two 13 km tunnels that will run under the Suez Canal to connect its eastern and western banks, sources tell Al Mal. The tunnels, which are being constructed by Petrojet and Concorde, will be inaugurated by 30 June next year, sources add. Dutch firm Arcadis was tapped as a consultant for the designs, with German firm CDM Smith reviewing the plans and supervising the construction work, the newspaper notes. Italian firm Cmc and French firm Razel-Bec were both tapped for technical assistance.
More from Enterprise
The National Bank of Egypt and Banque Misr just hiked rates on CDs — moves that could see the EGP gain against the USD
NBE and BM both hiked rates on CDs by 125…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Swvl is not dropping off of Nasdaq just yet, as company turns to the black in 2025
The company turned a profit last year, allowing it to…
Kiwe gets Central Bank green light to launch nationwide
The startup is backed by our friends at EFG Hermes,…