Egypt’s Planning Minister Hala El-Saeed said on August 28, that the state has allocated nearly EGP 275 bn for the development of the Sinai Peninsula until 2022, Invest-Gate reports.

The minister acknowledged that the developments comprise the establishment of a fish farm over 15,590 acres in the Suez Canal region, as well as, developing a natural lake in Port Said Industrial Zone, according to a released statement.

About ten roads will be constructed over an area of 1,339 kilometers at an investment value of EGP 26.6 bn, in addition to a number of residential units, she added.

In the statement, El-Saeed announced that the government is planning to establish 15 hospitals and medical units with EGP 1.2 bn worth of investments, with nine hospitals already constructed. She added that the ministry is seeking to develop about 53 schools, universities, institutions, and educational administrations for EGP 5.5 bn.

Additionally, five projects are currently being implemented in the agriculture and land reclamation field and approximately 54 water supply projects, the minister continued.

El-Saeed pointed out that the government is giving a priority to the development of Sinai and Upper Egypt, adding that an integrated development program is being prepared in this regard.

The government allocated EGP 2.982 bn for the development of the governorates of North and South Sinai during FY 2018/19, which accounts for 3% of Egypt’s total investments, she added.

She said that Sinai’s industrial zone for marble and glass industries is also being developed, highlighting that the government is carrying out a 400,000-acre land reclamation project in North Sinai, according to the statement.