Middle East

Egyptians can invest in new Suez channel

Cairo: Egyptian investors will be able to buy unlimited shares of investment certificates in the new Suez Canal channel, to be issued next Sunday, Egypt's Ahram Online has reported, quoting Finance Minister Hany Kadry Demian.

A new $4bn, 72 km long channel will be built alongside the existing waterway.

The certificates will be issued by three state-owned banks – the National Bank of Egypt, Banque Misr and Banque du Caire – on behalf of the Suez Canal Authority.

The remainder of the funding for the project will come from syndicated loans from Egyptian banks.  [19/08/14]




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