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Wednesday, 6 September 2017

Cabinet to have a final say on EEDC zombie project

Will all this China stuff finally give us clarity on an EEDC zombie project? The multipurpose platform in the Port of Alexandria has been on autopilot for so long, we figured we had our best White Walker on the job. Now comes news that the Ismail cabinet is expected to issue a final ruling on the matter in the wake of another round of talks between state officials and China Harbour, sources tell Al Mal. The project has been scraped and resurrected at least twice since the agreement was inked at the Egyptian Economic Development Conference in 2015, with one of the biggest stumbling blocks being disagreements over funding. Egypt is eyeing other partners in case the Chinese side objects to the cabinet’s decision, according to port authority chief Medhat Attia.

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