The Technology Valley project will be a model for an international technological industrial area, said Dr Tareq Wafiq, Minister of Housing and New Urban Community. The project will include specific industrial projects, he added.
In coordination with the Ministry of Scientific Research and Ministry of Communications and Information Technology, certain industries will be determined in collaboration with the Academy of Scientific Research and Technology that will do studies suggesting the establishment of new projects, he noted. Most of these industries will include factories using sand from Sinai to make Silica as well as factories manufacturing transmitters and receivers devices, he added.
Wafiq, who declined to name the sources of funding, said investors will compete to invest in the project when the situation is clearer.
The Minister of Transport Rashad EL-Meteny said two tunnels will be established for the project in Ismailia and Port Said. The Ministry may establish the tunnel in Ismailia first. More tunnels will be constructed in the future to serve the project, he noted.
The Minister of Communications Hany Mahmoud said the project is located in a vital region in Egypt where there are 17 international internet cables.
