Finance Ministry to offer eight T-bill, bond tenders worth EGP 190bn this week    US forces capture Maduro in "Midnight Hammer" raid; Trump pledges US governance of Venezuela    Gold slips at start of 2026 as thin liquidity triggers profit-taking: Gold Bullion    ETA begins receiving 2025 tax returns, announces expanded support measures    Port Said health facilities record 362,662 medical services throughout 2025    Madbouly inspects Luxor healthcare facilities as Universal Insurance expands in Upper Egypt    Nuclear shields and new recruits: France braces for a Europe without Washington    Cairo conducts intensive contacts to halt Yemen fighting as government forces seize key port    Gold prices in Egypt end 2025's final session lower    From Niche to National Asset: Inside the Egyptian Golf Federation's Institutional Rebirth    Egyptian pound edges lower against dollar in Wednesday's early trade    Oil to end 2025 with sharp losses    5th-century BC industrial hub, Roman burials discovered in Egypt's West Delta    Egyptian-Italian team uncovers ancient workshops, Roman cemetery in Western Nile Delta    Egypt to cover private healthcare costs under universal insurance scheme, says PM at New Giza University Hospital opening    Egypt completes restoration of 43 historical agreements, 13 maps for Foreign Ministry archive    Egypt, Viatris sign MoU to expand presidential mental health initiative    Egypt sends medical convoy, supplies to Sudan to support healthcare sector    Egypt's PM reviews rollout of second phase of universal health insurance scheme    Egypt sends 15th urgent aid convoy to Gaza in cooperation with Catholic Relief Services    Al-Sisi: Egypt seeks binding Nile agreement with Ethiopia    Egyptian-built dam in Tanzania is model for Nile cooperation, says Foreign Minister    Al-Sisi affirms support for Sudan's sovereignty and calls for accountability over conflict crimes    Egypt flags red lines, urges Sudan unity, civilian protection    Egypt unveils restored colossal statues of King Amenhotep III at Luxor mortuary temple    Egyptian Golf Federation appoints Stuart Clayton as technical director    4th Egyptian Women Summit kicks off with focus on STEM, AI    UNESCO adds Egyptian Koshari to intangible cultural heritage list    Egypt recovers two ancient artefacts from Belgium    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



"Development Corridor" under study by the government
Published in Daily News Egypt on 28 - 09 - 2006

1,200 km highway has potential to boost economy but cost worrisome
CAIRO: A five-member ministerial committee began work this month to study the feasibility of constructing a 1,200 km North-South highway proposed by Egyptian academic Farouq El Baz, of Boston University.
The nine-month study of what the committee is referring to as the Development Corridor, will look into establishing the country s first-ever highway linking the North Coast to the Southern tip of Nasser Lake. El Baz s proposal calls for building the highway west of the Nile and linking it to cities along the river with 12 smaller highways totalling 800 km.
Currently, a poorly-maintained, unlit network of two-lane roads stretches along the Nile to connect its villages. The government estimates 6,000 people are killed annually in traffic accidents.
On Monday, the committee appointed by Prime Minister Ahmed Nazif met to discuss feasibility of the project but faced serious opposition from some of its own members, including Alexandria Bibliotheca Chief Ismail Serag El Din.
The committee, which brought together the Ministries of Economic Development, Transportation, Housing, International Cooperation and Local Development, concluded the project will constitute a major investment the size of Toshka and Sinai Development Project and, therefore, requires more studies.
Minister of Economic Development Othman Mohamed Othman says the project would help spur development outside the constraints of the Nile Valley. Still, he says it is too early to determine its economic feasibility and whether it would lead to the desired results such as the reclamation of desert land between the highway and the river for agriculture, and the attraction of local and foreign investment to establish housing and industrial zones along the highway.
While no cost estimate has been made yet, Othman says the current proposal does not call for government funding, but relies on preparing project plans to be marketed to the private sector for a possible public-private-partnership.
Despite its potential for economic benefit, Serag El Din says few similar projects have proved successful in other countries.
A lot of these projects end in a way much different than what was planned for in the beginning, Serag El Din says. He cited a similar World Bank-funded project in Brazil abandoned after 20 years of on-and-off work, and Eurotunnel, a 50 km tunnel running from England to France across the English Channel. Although the tunnel opened in 1994 after eight years of construction, it remains heavily in debt as train-passenger revenues have not proven enough to finance the project s 10 billion sterling pounds (LE 109 billion) in loans. Project planners had originally estimated a total cost of 2 billion sterling pounds, but the final cost reached 11 billion sterling pounds (LE 120 billion).
But while committee members are aligning themselves in the for and against groups, Minister of Housing Ahmed El Maghrabi questioned the need for the project.
We need to ask ourselves why are we in need of such a huge project, says El Maghrabi. Would it not be more efficient to direct our money and efforts to smaller projects we are in immediate need of?
El Baz says his proposal is vital to absorb the saturation of people, housing and industry along the Nile Valley and boost the growth of already established projects such as the LE 6 billion Toshka project. The road, he says is to feature exits to all major cities along the Nile. Each connecting road can be geared toward the development of certain projects such as tourism along the road to Alexandria, and cement and petrochemicals along the road to Fayoum.
Earlier this month, Minister of Transportation Mohamed Mansour said construction on the 220 km Sohag-Red Sea road will begin in October. The ministry s studies show the road will cost LE 650 million, all of which will be financed by the government using a portion of the Sidi Abdel Rahman land-sale to Emaar Misr for LE 1 billion.


Clic here to read the story from its source.