Egypt’s Minister of Trade and Industry said Saturday that he approved a plan to establish an 820 million Egyptian pounds (around $92 million) industrial zone in the province of South Sinai.
Tarek Qabil further said during a conference on development and investments in South Sinai, held in the province, that that the area’s mineral resources will be utilised in the project.
A vocational school will be established in the area, as well as low-priced social housing units to house workers, he added.
Investment Minister Dalia Khorshed, who was also present at the conference, said that her ministry aims to attract Egyptian and foreign investment into the Sinai Peninsula and also establish “national projects” in the border area in the coming period.
“We obtained loans and grants from Arab development funds, we are working on four aspects, including roads, infrastructure, water, sewage and desalination plants,” she added.
Egypt’s Ministry of International Cooperation announced in January that aid provided by Arab entities for a development project in Sinai, which the government started to implement in 2015, reached $6 billion.
The project aims to reclaim and cultivate 620,000 acres, create new urban communities, and link Sinai to the more populous Delta area.