Government pumps EGP35 billion into Sinai Development Projects

Egyptian government has pumped EGP 35 billion (US$ 4.6 billion) into key projects for the development of the Sinai region, head of central agency for construction Mohamed Nasser announced.

Nasser added that the Central Agency for Construction – that works under Egypt’s Housing Ministry – had contributed EGP 10 billion to the development projects in Sinai. The government has pumped the remaining EGP 25 billion into all the infrastructure projects in Sinai.

In an interview at CBC Extra Channel, Nasser said his agency’s EGP 10 billion investments designated to upgrade 12.000 km of Sinai’s main roads besides the productivity power, social and services housing projects for Sinai’s citizens.

He highlighted the current turbulent security situation in Sinai as a major cause for investors’ unwillingness to pump businesses there.

The Egyptian government can launch initiatives for establishing mega developmental projects inside Sinai to encourage investors to come and start businesses there.