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Egypt Awards Suez Project to Group Including Army

Egypt announced on Tuesday it has chosen a consortium, including the Egyptian army, to develop an industrial and logistics hub in the Suez Canal area. The Suez Canal is the fastest shipping route between Europe and Asia. It brings in approximately $5 billion 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 consortia to bid for the development of 76,000 square...

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