Finance Ministry Allocates EGP 10 mln For Sinai Development Authority

Egypt’s finance minister, Momtaz al-Saeed, said the main priority of the state’s budget for the fiscal year 2012/2013 is targeted for national project to develop Sinai’s peninsula.

The minister affirmed that during the coming few weeks the procedures of supporting Sinai Development Authority, and providing the main needs, cadres of development and the work list; referring that EGP 10 million as a commercial budget have been allocated to the authority, while allocating an investing budget is being discussed.

On the same context, Eng. Osama Kamal, minister of petroleum, said the petroleum sector will focus during the coming period on enhancing its presence in Sinai via the companies.

He added that the Mineral Resources Authority, which is an affiliate of the sector, will present several regions in Sinai for using some mineral; as well constructing mineral projects which to create job opportunities.