Egypt: Army included in Suez tender

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A CONSORTIUM that included the Egyptian army and Bahrain-based engineering firm Dar al-Handasah Shair and Partners had been chosen to develop an industrial and logistics hub in the Suez Canal area, the Suez Canal Authority announced yesterday. The Suez Canal is the fastest shipping route between Europe and Asia and brings in around $5 billion (R52.9bn) in revenues a year, a vital source of hard currency for Egypt which has struggled since a 2011 uprising deterred tourists and foreign investors. In January, Egypt invited 14 consortiums to bid for the development of the hub around the canal. The Egyptian army is a local partner in Dar al-Handasah Egypt through the Armed Forces Engineering Authority. – Reuters


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