Egypt hires German firm to bore transport tunnels under Suez Canal

November 21, 2014 9:25 PM

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CAIRO/FRANKFURT (Reuters) - Egypt will use machines made by a German firm to bore at least four tunnels under the Suez Canal, part of an $8 billion project to expand the waterway that the government hopes will raise revenues and foreign currency reserves.

Unlisted Herrenknecht AG was discussing contract details, a spokesman for the company said on Friday, giving no details.

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