New development projects in North Sinai
Egypt's Prime Minister Atef Ebeid Monday night reviewed development requirements for North Sinai during a meeting with the town's Governor Ahmed Abdel Hamid and MPs.
The list includes two new water pipelines and the allocation of a quota of farming land next to As-Sallam Canal to the locals.
The MPs requested A1-Arish harbor be developed and LE 5 million be earmarked to support the drought-stricken areas in central Sinai.
The Prime Minister promised to look into the demands and support the development efforts in North Sinai.
Ebeid witnessed the signing of two contracts. The first to set up a new production line at the Sinai Cement Factory with a production capacity of 3.5 million tons, and the second to export half a million tons of cement annually to Gaza.
Speaking to businessmen and investors in Sinai, Hassan Rateb, Chairman of the Sinai Investors Association, who doubles as Chairman of the Sinai Cement Factory, said that these major development projects were set up in Sinai for the first time under the rule of President Hosni Mubarak.
The Governor of North Sinai said that Sinai has huge mining, agricultural, tourist and trade wealth. He called for increased investment in the area to provide job opportunities for youth.
Ebeid said those attending the meeting have come to witness the centers of development which have been formulated and were clearly defined by President Mubarak.
"The Sinai Cement Project shows several aspects. One of them is that setting up a new industry is based on advanced technology which contributes to the national product," he said, adding that Egypt witnesses every day the setting up of 8 factories, which use advanced technology.
" This modernization is important and necessary in order to face a market, which is moving in the direction of removing barriers," he stressed.
Ebeid opened the first stage of the tourist Arish Coral Beach village, which is a tourist and urban resort with joint Egyptian-Arab investments totaling LE 150 million.
The first stage cost LE 56 million. It includes a 4-star-88-room hotel in addition to a main and entertainment building, a sea food restaurant, amusement areas and public utilities.
Ebeid expressed thanks to Arab brothers who invested in their second country, Egypt, stressing that the Egyptian economy is strong and gaining strength.
"The government has an ambitious program which will realize a leap in development rates. The government will, in the coming months, offer new mechanisms for internal and external finance and direct investment for a long period," he added.