The Red Sea Ports Authority decided to establish an international port in Sharm El-Sheikh City with $10bn investments.
The port, which will be completed within a year, will comprise a yacht port, tourism resort and business and money centre, said Chairman of the authority Hisham Abu Sina.
Moreover, 3 new ports will be set up on Red Sea cost: the first is an EGP 140m fishing port in El-Tor City and will be finished in 18 months; the second is Abu Ramad port which will be built in Halayeb; and the third in Shalateen with EGP 300m investments.
