Water Resources and Irrigation Minister Hossam Moghazi said on Saturday that Egypt is appointing an international office to conduct a feasibility study for a navigation lane that links the Nile Basin countries from Alexandria in the north to Lake Victoria in the south, adding that the African Steering Committee for the project has approved the pre-feasibility studies carried out by Egypt.
The minister also said that the African Development Bank is granting the project a loan of 750,000 euros for the first phase of the feasibility study.
“Egypt is developing the terms of the contract with the international office,” he said. “This confirms the confidence of the African countries in Egypt's capabilities.”
Moghazi said Egypt is willing to open the Transport and Water Resources ministries' training centers for the project specialists.
The cost of the project is expected to exceed US$10 billion. It is scheduled to be partially operational by 2017.
Edited translation from Al-Masry Al-Youm
