The Ministry of Youth and Sports has received a proposal from Port Said governorate to establish a new sports stadium at a cost of EGP 2bn.
A government source told Daily News Egypt that the proposal came through a study of a consultant office, Diaa Consult, and includes the establishment of a large residential compound funded by businesspeople, whose proceeds go to finance the new stadium.
He added that, so far, the location of the new stadium has not been settled, where they are reviewing two sites and the companies to establish the project.
The source pointed out that the committee, which was sent by the Ministry of Youth and Sports to inspect the Port Said Stadium, which was excluded from the stadiums that hosted the Africa Cup of Nations 2019 (AFCON19) because of its unreadiness, ended its work to determine the total financial cost of the development process, and the elements that must be developed at the stadium and the financial evaluation for those works.
The source said that the initial cost of the total development of the stadium and upgrading its efficiency reached EGP 400m in order to conform to international specifications in line with what happened in the stadiums of Cairo, Ismailia, Suez, Alexandria, Salam, and Air Defence which AFCON19 in June and July.
The Minister of Youth and Sports, Ashraf Sobhy, held several meetings with Mahmoud Hussein, deputy chairperson of the committee on youth and sports in the parliament, to discuss the results of the work of the committee formed by the ministry to inspect the stadium.