Cairo – (Masaader News)
The Board of Directors of Suez Canal Economic Zone Authority agreed to end the outstanding problems between the Economic Zone and the Egyptian-Chinese Company, as well as to settle the dispute between the Economic Zone and Al-Sokhna Oil Refining Company for the benefit of the State, according to a press release.
The Suez Canal Authority Board of Directors discussed the Suez Canal Authority in Ismailia in the presence of the President of the Economic Zone, the Ministers of Industry, Transport and Investment and the governors of Canal City, Port Said, Ismailia, Suez and the independent members with economic and legal expertise.
The first of its meeting the board discussed the agenda during the next phase, as well as outstanding issues with some investors, which was decided and resolved their problems during the last month .
Admiral Mohab Mamish, said that the first files resolved were the settlement and resolution of the problems between the economic zone, the main development company and the Egyptian-China Joint Investment Company, which had been stuck for the past 5 years, pointing out that new negotiations were held in November 2016 on the agreement The initial framework to the benefit of all parties concerned, after a dispute for years, and then the settlement and allocation of land area of 1.25 million square meters of the Egyptian Chinese company.
During the meeting, the board agreed to settle the dispute between the region and Al-Sokhna Company for Refining and Petrochemicals which ended with the approval of the allocation of land with an area of 2.2 million square meters, Utilization and completion of the procedures of the contract between the two parties.
The Chairman of the Suez Canal Economic Zone discussed with the Board of Directors’ about Port Said Company for Container and Cargo Handling, which ended with the approval of the company to reconcile the company’s conditions and renewal of its license for a period of 5 years starting July 1, 2016.
He also asked the members of the Council to focus on attracting investment opportunities during the coming period and encourage local and foreign investors to invest and establish projects in the Suez Canal Development Region.
Focus Keywords
Industry Masaader News #Sues Canal #Economic Zone #Companies #China#