CAIRO, Oct. 17 (Xinhua) -- Egyptian President Abdel-Fattah al-Sisi urged on Tuesday the establishment of a bunkering company to serve ships at the Suez Canal zone to attract more investments to the waterway region, the presidential spokesman said in a statement.
Sisi's remarks came during a meeting with head of the Suez Canal Authority and the Suez Canal Economic Zone (SCZone) Mohab Mamish on Tuesday, said presidential spokesman Alaa Youssef in the statement.
During the meeting, the president urged the establishment of a company for logistics and ship services in Port Said in cooperation with the SCZone and the General Authority for Petroleum along with the private sector.
For his part, Mamish provided a report on the partnership agreement signed in September between SCZone and Dubai-based DP World to develop 95 sq km in Ain Sokhna district of the zone, with 75 sq km as an industrial zone and 20 sq km as a residential area.
The development of the SCZone is one of Egypt's national mega projects and one of the promising investment potentials for several world companies.
Sisi ordered expansion of the Suez Canal that was completed in August 2015 to facilitate navigation in the waterway, ease difficulties for shipments and attract further investments to the vital region.
China's TEDA corporation, one of the oldest and largest industrial developers of the SCZone, is currently working on the development of an area that increased to 7.23 sq km in Ain Sokhna, whose first phase was completed attracting some 68 enterprises.
