Egypt’s transport minister says investors have shown strong interest in plans to develop bunkering and other infrastructure projects at the northern end of the Suez Canal.

Mohamed Mansour told a conference in Cairo that around 100 investors had expressed interest in a government-backed project to develop East Port Said.
The port project includes logistic centres, light industry and bunkering.
“People are now extremely reluctant to invest in paper. Now is the time to invest in the real economy, now is the time to invest in infrastructure,” he said.
The minister added that Egypt expects an extra $8.9 billion in private investment in transport, including ports and roads, over the next three years.
Mashreq Petroleum, a subsidiary of Taqa, an Egyptian energy company and the biggest private equity company in the region, has already begun work on a new bunker and bulk liquids storage terminal in Port Said.
The company has said it wants the facility to be in operation by 2010.
The government-backed East Port Said project aims to create a new regional maritime hub.