Egypt to invest EGP 275bn in Sinai until 2022 - Minister

Cairo – Mubasher: The Egyptian government has allocated around EGP 275 billion for investments in the Sinai Peninsula until 2022.

The government aims to build a 15,590-acre fish farm at the Suez Canal’s national project, in addition to setting up a natural lake at the canal and an industrial zone in Port Said, planning minister Hala El Said highlighted in a statement on Tuesday.

Moreover, almost 10 roads will be built over 1,339 kilometres at a combined cost of EGP 26.6 billion, as well as a number of the residential units, El said added.

The government also is looking to establish 15 hospitals and medical units with EGP 1.2 billion in investments, she said, pointing out that nine hospitals were already constructed.

She indicated that the government seeks to build and develop around 53 schools, universities, institutions, and educational administrations at a value of EGP 5.5 billion.

Furthermore, the government is implementing five projects in the agriculture and land reclamation field, and nearly 54 projects for water supply, the minister said.

Sinai’s industrial zone for marble and glass industries is also being developed, she said, pointing out that the government is maintaining the 400,000-acre land reclamation project in the north of Sinai.

The government is also executing the integrated wastewater treatment projects in Bir al-Abed City, El Said remarked.

The Arab world's most populous nation is looking to invest around EGP 2.98 billion in developing the governorates of North and South Sinai during fiscal year 2018/2019, which accounts for 3% of the country’s total investments.

The North African country’s general budget will fund these investments by 86%, or EGP 2.553 billion, up 32% from FY17/18.


North Sinai

Total target investments in the governorate of North Sinai amounted to EGP 1.619 billion during the current fiscal year.

Investments will cover the water, education, irrigation, and transport fields, the minister highlighted, pointing out that the water desalination plants in Sinai are being upgraded.

El Said indicated that new roads and cities are being developed in North Sinai, pointing out to the establishment of New Rafah city and the completion of 936 residential units.


South Sinai

On the other hand, planned investments in the governorate of South Sinai totalled EGP 1.363 billion in FY18/19.

Roads are being developed in the governorate, as well as water desalination plants are being established in Ras Sedr, El Tor city, Nabq, Abou Redis, and Saint Catherine.

The government is also drilling wells and building dams and lakes to protect residents from floods and to produce sugarbeet in Egypt.

As for education, the government will carry on the establishment of King Salaman University, in addition to upgrading schools.

Mubasher Contribution Time: 28-Aug-2018 09:47 (GMT)
Mubasher Last Update Time: 28-Aug-2018 09:58 (GMT)