Egypt’s Sinai Infrastructure Project Will Cost $5 Billion
Egypt’s Sinai Infrastructure Project Will Cost $5 Billion

Egypt’s Sinai Infrastructure Project Will Cost $5 Billion

Egypt’s Sinai Infrastructure Project Will Cost $5 Billion

Egyptian President Abdel Fattah al-Sisi announced a multi-billion dollar construction project in the Sinai Peninsula on Saturday, with building work expected to start within the next two to three years.
North Sinai lacks the infrastructure and jobs of the Red Sea southern coast, which is known for its holiday resorts, Alaraby reported.
Since 2013, Egypt’s army has been battling Islamic State group and other militants in the north, with the insurgency seeing hundreds of police and troops killed.
Last month, Sisi publicly ordered his military chief-of-staff to restore security in Sinai within three months, after militants killed more than 300 worshippers at a local mosque.
It appears Sisi is pursuing a carrot and stick approach, with the promise of better conditions after decades of neglect for the North Sinai communities, in a bid to quell the insurgency.
“We have entrusted the ministry of housing and the engineering authority with a national project of comprehensive urban planning,” Sisi said at a ceremony in the Suez Canal city of Ismailia to inaugurate the construction project.
The project is expected to cost over $5 billion, Sisi said, but he did not provide details of a start date, sources of funding or details of what would be built. Since the overthrow of president Mohamad Morsi in 2013, Sisi has attempted to revive the Egyptian economy by launching multi-billion dollar mega-projects, such as the Suez Canal expansion project.
Economic grievances had fuelled the 2011 uprising that overthrew long-time president Hosni Mubarak, ushering in years of unrest that decimated tourism and investment.
Poverty remains rife and the austerity measures introduced by the government have sent shockwaves through society.


Short URL : https://goo.gl/qGQe6i
  1. https://goo.gl/o89kUG
  • https://goo.gl/T3XXRt
  • https://goo.gl/EcmNxw
  • https://goo.gl/8dnvjM
  • https://goo.gl/FsJndp

You can also read ...

Venezuela Wants to Improve Economy
Venezuelan Labor Minister Eduardo Pinate says the Bolivarian...
New Whistleblower Rises Against India’s ICICI Bank
India’s private lender ICICI Bank has been identified as a...
GDP expanded 6.8% year-on-year in the Q1.
With growth resilient and progress made in the pursuit of high...
Closing Africa’s Wealth Gap
From “Africa Reeling” to “Africa Rising”, there’s a new...
Asian countries form a crucial part of the supply chain for many of the Chinese electronics the US has slapped with tariffs.
The mounting trade tensions between the US and much of the...
The accumulated improvement in the structural balance since 2015 amounted to 0.7% of GDP.
The European Council closed the excessive deficit procedure...
Italy’s New Gov’t Facing Daunting Challenges
Italy’s Five Star Movement and the Lega party managed to form...
Bitcoin Falls to Four-Month Low
Bitcoin dropped to a more than four-month low on Friday,...

Add new comment

Read our comment policy before posting your viewpoints