Chairman of the General Authority for Suez Canal Economic Zone Ahmed Darwish signed on Wednesday a memo of understanding with a delegation of the alliance of Spanish companies to develop East Port Said projects.

Darwish said the alliance showed an interest in investment opportunities in East Port Said project, pointing out that it would work on offering consultancies in many fields such as power generation, water desalination and housing projects.

He said the memo, which was signed at the headquarters of the Middle East News Agency, would increase the value of investments over five years to 8 billion euros.

For his part, the coordinator of the coalition, Ahmed Metwalli, said the alliance, which groups major government and private companies, will seek to make use of investment opportunities available in Egypt.

Source: MENA