Egypt Spends EP 2.5 Billion to Populate Sinai
The Egyptian Housing Minister, Dr. Muhammad Ibrahim Suleiman, disclosed that the state's total investments on populating Sinai hit EP 2.5 billion. EP 1.075 billion was spent on water projects, EP 393 million on roads, EP 146 on sewage projects and EP 103 million on housing, al Alam al Youm daily reports.
Speaking during a recent visit to Sinai, the Minister outlined the Peninsula's strategic development plan. According to him, this development will concentrate on the northern part of Sinai along the Mediterranean coasts, where nearly 710,000 people will be populated in al Arish, Bir al Abd, Rafah and Seikh Zuweid. This will be accomplished through the establishment of a series of small cities and rural Bedouin villages. The government hopes that this development effort will create over 200,000 job opportunities for locals.
During his visit, Dr. Suleiman urged businesspersons and investors to participate in various projects related to the development of Sinai. He mentioned that the major water pipeline project to the heart of Sinai would cost approximately EP 1 billion. The government has executed studies to locate the best means of financing this project via the BOT or BOOT method, and is looking for private entrepreneurs to execute this work. (EP3.4=$1)
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