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Sources have said that four insurers in Egypt are competing to win an insurance contract to cover the construction of a tunnel under the New Suez Canal, reported Amwal Al Ghad.
The company that would construct the tunnel has received bids from Mohandes Insurance Co. S.A.E., Arab Misr Insurance Group S.A.E., Suez Canal Insurance Co. and Misr Insurance Co. The cost of the project is 10 billion Egyptian pounds ($1.3 billion).