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00:00 The project is based on the development of the North Coast region as a whole
00:07 It's not a project that suddenly appeared
00:11 It's based on a comprehensive plan for the region
00:17 It's also based on the measures that we are following
00:22 which is the partnership between the government sector and the private sector
00:27 Of course there are many issues, but the proposals that were submitted
00:33 are from several investment groups and investment alliances from different countries
00:40 The direction was with the UAE alliance
00:45 and now the different rules that are available in the Egyptian laws
00:51 are being discussed with them to apply the best management framework for this project
00:59 because we will use this project as a model to be adopted in other areas
01:07 So it's a UAE alliance, who will implement the project?
01:12 It's a UAE alliance with an Egyptian partnership, the Egyptian government
01:17 because the land is owned by the Egyptian government
01:21 and the development within the borders of the Egyptian land
01:25 and the laws are Egyptian laws and everything is Egyptian
01:29 The money, development and management will be managed by the private sector
01:33 So there will be a partnership between UAE companies and other companies from the private sector?
01:37 It will definitely happen because the project is very big
01:40 We are talking about a very large region
01:44 There will definitely be partnerships and alliances to implement
01:49 and it will be proposed to many investors
01:52 We are talking about a master plan for the region and a management plan for the region
01:58 But the projects that are separated within this large project
02:05 will be of course in different partnerships
02:08 and we will find an Egyptian investor developing a region or building or a certain activity
02:14 or a foreign investor, whoever it is
02:16 22 billion dollars or more?
02:18 This is a fundamental dimension for the complete completion of the project
02:24 Of course, it will not be implemented from the first moment
02:28 but this is the complete project and the fundamental dimension can be within the borders
02:33 and it can be more than that, depending on the development of the project and the speed of development
02:39 The signing has not yet happened as a final agreement
02:44 This is in the negotiation stage?
02:46 Yes, the preparation for the signing, we will not say negotiation stage
02:50 We have gone through this stage in a small way
02:53 We are preparing for the signing