Red Sea Ports plans USD10bn project in Sharm El Sheikh
The Red Sea Ports Authority (RSPA) has announced that it is planning an auction to establish a tourist resort in Sharm El-Sheikh, with an investment cost of USD10bn. This is a according to Abdel-Raheem Moustafa, RSPA spokesperson. The project will spread over 5mn sqm and will include a marina, large-scale shopping centre, financial centre and several flyovers to connect Sharm El-Sheikh Port to the city. A number of investors have expressed interest in the project, including Amer Group, according to Moustafa. (Al Alam Al Youm)
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