Suez Canal Authority mulling funding options for development project

May 20, 2014 11:07 am

Egypt’s Suez Canal Authority has said its board of directors has consulted with a number of local investment banks to establish a company for the development of the Suez Canal, Daily News Egypt has reported. The company will obtain funding through IPO, which will be open to all Egyptians, said media spokesperson for the Suez Canal Authority, Omar Fouad.