UAE unveils major oil pipeline project linking Egypt to Europe

The Vice President of the UAE National Marine Dredging Company, Nasser al-Marzouqi, unveiled a huge project to establish oil pipelines linking Egypt to Europe at depths that could reach 2,000 kilometers.

The Deputy Chairman of the UAE company indicated the company’s desire for an extended partnership with the ENPPI and Petrojet companies.

They also seek to develop a work plan regarding the implementation of important projects inside and outside Egypt, following the success of several projects in cooperation with Petrojet in the Arab Gulf region.

During his meeting with Egyptian Petroleum Minister Tarek al-Molla, he added that the company intends to invest in green energy projects.

The meeting witnessed an agreement to hold technical meetings between the two sides to agree on projects of common interest and to set the framework and schedule for their implementation.

Egypt and Emirates bear fruitful cooperation

This comes as just one of several major projects established between Egypt and the Emirates.

The most recent was an announcement by the New Urban Communities Authority in Egypt and the UAE company “UDC” regarding an agreement to allocate a plot of land in the Andalus Gardens area in New Cairo to establish integrated urban activity.

On the sidelines of the signing, the Egyptian Minister of Housing, Utilities and Urban Communities, Assem al-Gazzar, explained that according to the contract, a plot of land with an area of 665,505.63 square meters – or about 157 acres – on the central ring road on the southern 90th Street in the Hadayek al-Andalus area, next to the Al-Amal Triangle in the city of New Cairo, will be allocated for the company’s benefit.

The UDC Real Estate Development, one of the subsidiaries of the UAE’s Mohammed Omar Bin Haider Holding Group, aims to establish integrated urban activity (residential, administrative, entertainment, commercial, and hotel) under the name The Crest, in cooperation with Alcazar Company.

It will be implemented at the highest level, in line with the company’s work all over the world. Marketed locally and internationally, project’s implementation period will be eight years – starting from the date of issuance of the planning and zoning approval decision – with an amount of LE60 billion paid in foreign currency.

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