By Mahmoud Salah El-Deen

Cairo – Mubasher: Egypt’s Suez Canal Authority is poised to finance the area’s infrastructure projects through long-term loans, said Ahmed Darwish, the Chairman of the Canal Economic Zone.

“The aggregate finance will be determined by the requirements of each project following the current feasibility studies”, Ahmed Darwish told Mubasher in a phone call.

Both Ain Sokhna power station and East Port Said water station will cost $500 million and $125 million respectively, the chairman added.

Earlier, President Al-sisi released a decree in August 2015 to establish an economic zone over 460 kilometers, including three industrial zones in the East Port Said, the northwestern coastal zone of the Gulf of Suez, and Ismailia Technology Valley.