EGP 363 Billion Allocated for North Sinai Development Project
This is the second stage of development in North Sinai, with the first having seen over EGP 600 billion invested since 2014.
The Egyptian government has allocated EGP 363 billion to complete the second stage of development in the governorate of North Sinai.
The allocation of funds will primarily focus on the service sector, which will receive 55% of the government's investments. The construction sector will receive 10.5% of the allocated funds, while agriculture and land reclamation schemes will get 6.4%.
The first stage of development in North Sinai saw more than EGP 600 billion invested since 2014. The focus of the initial stage was on infrastructure projects, which enhanced the region's appeal for investments. In addition, eleven housing communities, costing over EGP 4 billion, were constructed in North Sinai, providing public utilities to over 17,000 housing units.
Prior to the recent developments, the projects implemented between 1982 and 2014 were limited to the construction of the Ahmed Hamdi tunnel and the Al-Salam and Al-Ferdan bridges, which connected Sinai with the Suez Canal region.
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