Egypt confirms continuing BOT projects

Egyptian Minister of Finance Medhat Hassanein asserted the importance of implementing the projects in Egypt on the BOT (build - operate - transfer) system, which allows the country to expand the high-cost projects like projects for the basic infrastructure including roads, airports and harbors.

In an address he delivered yesterday morning while opening the international conference regarding the successful projects carried out on the BOT system in Egypt, the minister said, "Realization of the importance of the basic infrastructure projects by a lot of the developing countries led to the expansion of these sorts of projects that were huge investments in the sixties and seventies that are financed by sources in the public sector or the external loans."

The minister said, "The economic crisis and increasing the severity of the debt crisis in the eighties led to reducing the government's ability to implement new projects in the basic infrastructure field."