An alliance between Shair, partners Dar Al-Handasah and its Egypt-based firm have won the bid for the Suez Canal Project, Head of the Suez Canal Authority Mohab Memish announced Tuesday.
Founding member of the Public Front for the Suez Canal Rasha Qenawi told Daily News Egypt that the firm needs around eight months to complete the development project’s “master plan”.
Among the 13 bid participants, the Dar Al-Handasah alliance received an 86% assessment ratio, Memish added.
He pointed out that French engineering services company Egis, nominated by the World Bank, was selected to evaluate the performance of the project’s master plan.
On what the firm is expected to do, Qenawi pointed out that that consultancy studies will include “everything”.
The Public Front for Suez Canal member said that the studies will be conducted for the “mega development project” not for the “one-year expansion project”.
“The studies make feasibility studies and define the industrial and agricultural projects needed in the development project as well as their volumes and placements,” Qenawi added.
Following the government’s approval of the plan, different projects will be offered to Egyptian and foreign investors through public biddings, Qenawi noted.
Qalaa Holding, formerly known as Citadel Capital, announced Tuesday that its mining unit ASCOM Geology and Mining was chosen “to complete dry sand excavation on a 1-kilometer-long, 0.4-kilometer wide section of the New Suez Canal”.
“ASCOM has completed initial survey work on its assigned segment and has committed to the excavation of 25,000 cubic meters per day until such a time as they strike wet soil,” the company said in an official statement.
The company is not yet authorised to give comments, a company representative told the Daily News Egypt.