Egyptian PM serious about corridor project

Egyptian PM serious about corridor project

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Egypt: Essam Sharaf, Prime Minister of Egypt said that the government is serious about ‘Desert Development Corridor’ project. “It would create a corridor of trade between Alexandria and Capetown,” he added at the sideline of his meeting with Dr. Farouk al-Baz, Director of the Center for Remote Sensing at Boston University.

As per the last report on GeospatialWorld.net, Dr. Farouk al-Baz proposed the plan to Egypt’s former government in 1985. Following the recent revolution, El-Baz travelled to Egypt to meet with government leaders and the general public to explain the plan that would reinvigorate the country and expand the living space near the banks of the Nile River.

Now, to make this corridor embodied, the Prime Minister met with Dr. Farouk al-Baz and discussed ways to implement the project which would cost USD 24 billion. It was suggested that the project, to be implemented in two phases over ten years. It will be financed by an Initial Public Offering for individuals and investors.

The prime minister also discussed ways to develop scientific research by revitalising the role of the Supreme Council for Scientific Research. On the other hand, Al-Baz said that the project would be launched in six months, and he advised the government to play a legislative role, leaving the actual implementation to an independent body.

Source: www.almasryalyoum.com