A technical study examining the possible construction of a tunnel connecting the Egyptian cities of Suez, Ismailia and Port Said to the Sinai Peninsula was completed last month, announced Egypt’s investment minister Mahmoud Mohie Eddin.

The findings of the study, completed by international consulting firms, were presented at a conference in South Sinai.

The tunnel is designed to have two motor lanes and a railway track. The total cost of its construction, an estimated EGP 1bn (USD 175M), will be raised through a special fund so as to avoid any additional financial burdens on the state budget.

Mohie Eddin also said the government is planning to build the country’s biggest investment zone north west of Suez, which the cabinet will discuss in its first meeting after the summer holiday.