Word: mashour
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...Arab Contractors, Egypt's largest building firm, Osman has been charged by Sadat with overseeing the reconstruction of all canal zone cities. He plans to establish headquarters in Ismailia, his birthplace and seat of the old canal company. The clearance of the canal itself will be directed by Mashour Ahmed Mashour, 55, the ex-army officer and graduate engineer who has been chairman of the Suez Canal Authority since 1965. He has set a target date for opening the canal six months from the day work starts. Those who know the tough-minded Mashour say that he will make...
Sadat called for preliminary planning after initial Egyptian victories in the October war, and Mashour took the cue to solicit bids from salvage firms in France, Italy, Holland, West Germany and Yugoslavia. Mashour is close to signing a contract, probably with a Dutch-West German-Yugoslav consortium. The first job of the clearers will be to rid the banks of their lethal carpet of mines, and that step alone should take a month. Then divers will go into the water to pinpoint the positions and depths of wrecks. Silt, once thought to be a major barrier to reopening, will...
Israeli Grievance. Since then, the canal has been a going concern. Under Younes and Mashour, who succeeded him last October, and with the help of foreign loans, the canal has been widened by 80 ft. and deepened for drafts of 38 ft. instead of 35 ft. Employees are kept on their toes by Mashour, who tours the canal banks every day in a black Chevrolet. The one real grievance against Egypt is that it still bars the canal to Israeli traffic...
...Mashour's problem now is to meet the challenge of the superships. The canal is limited, with some exceptions, to ships of up to 75,000 tons and 900 ft. in length. Shipping companies can make more money going around Africa with vessels of 150,000 tons and up than going through the canal with smaller ships...
Last week Mashour announced plans to deepen the draft to 45 ft. by 1975 and open the canal to two-way traffic at a cost of $225 million. Now all he needs is the money. Although the canal earns 60% of Egypt's foreign exchange, Nasser lets it keep only 14% for reinvestment, uses the rest to shore up Egypt's shaky economy...