Egypt's First Lady Mrs. Suzanne Mubarak Monday opened two phases of the new Grand Egyptian Museum (GEM) bordering the Egyptian capital. The final phase of the museum is set to be complete late in 2012 at a cost of $600 million. "This museum will be the greatest in this century," said Farouq Hosni, Egypt's Minister of Culture Monday. These two phases of the museum at its Giza premises on the Cairo-Alexandria Desert Road comprise the restoration station and two power units as well as the fire fighting unit, according to the Minister. "The Grand Egyptian Museum will be built by 2012 at a cost $600 million. $300 million are a Japanese loan and the remainder will be financed by Egypt's Supreme Council of Antiquities as well as other donations and international funds. Its area is approximately 117 acres of land, and it is part of a new master plan for the Pyramids Plateau," Hosni said. He added that the final phase of the museum would end in 26 months. On January 5, 2002, President Hosni Mubarak laid the foundation stone for the new museum site. On August 25, 2006 the Statue of Ramses II was moved from Ramses Square in central Cairo to the Giza Plateau, ahead of construction of the new grand museum.
