Egypt signs 2 water system deals worth EGP2.2 billion with Kuwaiti FundSource: www.export-egypt.com 12/8/2018, Location: Africa |
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Egypt and the Kuwait Fund for Arab Economic Development signed two agreements on Saturday to establish an EGP 1.4 billion water system in Bahr Al-Bakr and to finance four desalination plants in South Sinai governorate for EGP 880.5 million.
The signing comes on the sidelines of the Africa 2018 forum taking place in the Red Sea resort city of Sharm el-Sheikh. The agreement was signed by Egypt's Minister of Investment and International Cooperation Sahar Nasr, Abdulwahab Al-Bader, the Director General of the Kuwait Fund for Arab Economic Development, Kuwait's Ambassador to Cairo Mohammed Saleh Al-Thoikh, and Governor of South Sinai Khaled Fouda. Nasr pointed out that the Bahr Al-Bakr water system fits within the framework of the directives of President Abdel-Fattah El-Sisi to support Sinai development efforts and to provide the necessary funding for its development. Four desalination plants in South Sinai will also be produced as part of the project, with a total production capacity of 56,000 m3 / per day. The project aims to strengthen the system of water management through optimal use of available water resources in the peninsula. The project includes the construction of a water treatment plant with a capacity of 5 million m3/ day to be used in the reclamation and cultivation of about 330,000 feddans east of the Suez Canal and 70,000 feddans currently cultivated in the area Al-Taina and Qantara east. This will bring the total cultivated land to 400,000 feddans, in addition to the establishment of an integrated agricultural development project. The minister highlighted that this would increase the quantities of exports and reduce imports, in addition to creating new job opportunities amounting to about 40,000 jobs in agriculture, agro-processing and animal production sectors. The sustainable project will have an impact of 1.8 billion cubic meters per year of treated water, said Nasr. The project aims to meet the growing demand for drinking water, reduce the losses in water transport networks and protect public health by providing safe drinking water to the cities in the South Sinai governorate. Egypt is working to develop the Sinai Peninsula and improve the standard of living by providing basic services like potable water. As part of the financing for the Sinai development and reconstruction, particularly desalination and water treatment projects, the Kuwaiti Fund for Arab and Economic Development has invested about $1.289 billion in Egypt, including $327 million for desalination plants. |
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