Engineer Abdul Hamid Al-Mutari, Vice President of the Small and Medium Industries Association in Ismailia has said that the tunnels of the new Suez Canal, opened by President Abdel Fattah El-Sisi, have given the kiss of life to the plants of the eastern Qantara area.
He added in an interview with MEO that these tunnels and the floating bridge have an important development dimension, which is transforming Sinai into an agricultural and industrial city. These tunnels also reinforce the transformation of the city of Bir al-Abd into an industrial city, after ensuring the easy transfer of raw materials and products to that region.
Al-Mutari explained that Egypt will be a prominent point on the map of global energy investment after the major energy projects. It is expected that the coming period will witness the recovery of investments in the fields of cement, iron and building materials in general, as well as the recovery of the phosphate fertiliser industry, to provide gas and energy sources for those energy-intensive industries.
How do you see the opening of the new Suez Canal tunnels?
The tunnels of the new Suez Canal and the Martyr Ahmed Mansi Floating Bridge at the Suez Canal have given a kiss of life to about 195 factories in the Qantara Sharq area of Ismailia. In addition to the navigations in Northern Sinai, these new tunnels are the beginning of the right way to invest in these areas, because they represent a new boost to the long-stalled investments. Only the inhabitants of the region are aware of its value.
What is the most important dimension to the opening of these tunnels?
The tunnels of the new Suez Canal have an important development dimension, namely the transformation of Sinai into an agricultural and industrial area. These tunnels also promote the conversion of the city of Bir al-Abd to an industrial city, after ensuring the easy transport of raw materials and products to that area and injecting new investments in the coming period. It can be said that this expenditure is one of the largest national projects opened in Egypt.
What other factors encourage investment in the Suez Canal Area?
The Sinai Development Authority must cooperate with investors, and be lenient when dealing with them. The tunnels will contribute strongly to the return of life for those factories; the region includes factories operating in different sectors such as mills, spinning and weaving, woven scarves, agricultural pesticides and Jeans.
Tell us about investment in Ismailia industrial zone?
Ismailia industrial zone is witnessing industrial activity for large and medium projects in the production of salt, gypsum and fish feed. Consequently, these projects, after the opening of the new tunnels linking the east of the canal to the west, will witness a major recovery. Licensing of small and medium enterprises should also be facilitated in the industrial zone east of the canal in the governorate of Ismailia.
How do you see the investment situation in Egypt?
Egypt will be a prominent point on the map of global energy investment after the major energy projects, and the coming period is expected to witness the recovery of investments in the fields of cement, iron and building materials in general, as well as the recovery of phosphate fertilizer industry, so as to provide gas and energy sources for those energy-intensive industries.
What is your investment forecast for the Canal area?
The region will witness a major boom in the coming period, where Port Said city will see the opening of East Port Said Port next June. Three berths will operate in the port, which helps to absorb more than 5% of the existing containers worldwide. It is also positive that Port Said will see the opening of one of the most important projects in Egypt in a few days; where the political leadership will open the Zahr field and Egypt will achieve self-sufficiency of natural gas.