News Column

Egypt: First Project to Use Black Sand to Lure Investments Worth U.S. $3 Billion

May 27, 2014

A ministerial committee has decided to extend the duration of receiving offers from local and international companies interested in bidding for a project to make use of the black sand in the Delta city of al-Burullus, Kafr al-Sheikh.

The ad-hoc committee, which has been formed for the purpose of the project, said the decision came in response to requests made by several companies seeking to compete for the bidding. According to the recent decision, the companies can bid for the project until June 6.

The project will run for 20 years and will secure around 5,000 job opportunities, Minister of Electricity Mohamed Shaker said. The project is expected to lure investments worth $3billion.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: UMCI News

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters