Egypt invests EGP 4trn in 25,000 development projects over 7 years: Planning Minister

Daily News Egypt
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The government has invested over EGP 4trn in 25,000 ongoing and completed development projects nationwide since July 2014, according to Minister of Planning and Economic Development Hala El-Said.

In a statement on Monday, El-Said added that the investments in these projects will continue until June 2021.

She stressed that the Egyptian state gives great importance to investing in development projects in various sectors. It aims to create a qualitative leap in construction and development, whilst reducing unemployment rates and contributing to raising economic growth rates.

She emphasised that the period between July 2014 and December 2019 saw over 16,000 development and service projects across various sectors completed, at an estimated cost of EGP 2.2trn. A total of 9,000 further projects are currently being implemented, at a total cost of EGP 2trn.

According to El-Said, there are 4,446 completed and ongoing projects in Upper Egypt, with a total cost of about EGP 296bn. Of these, 2,343 projects, worth EGP 51bn, have been completed. These come in addition to 1,498 projects, worth EGP 182bn, in border governorates, of which 658 projects, worth EGP 18bn, have been completed.

A ministerial report indicates that the petroleum and mineral resources sector is spearheading the state’s development plans, with several projects already completed. A total of 326 projects, worth EGP 1.1trn, are currently being implemented, with a further 97 projects, worth EGP 1trn, already completed.

The ministry report said that 538 electricity and renewable energy projects have been completed at a cost of EGP 387bn, with 43 projects currently being implemented, at a cost of over EGP 88bn. In the housing, utilities, and informal housing development sector, a total 1,426 projects have been completed, at a cost of about EGP 208bn, and 3,696 other projects worth EGP 830bn are being implemented.

The report also highlighted that 531 transportation sector projects have been completed at a cost of about EGP 175bn, and 146 other projects being implemented at a cost of EGP 478bn. In the trade and industry sector, 146 projects have been completed at a cost of about EGP 29bn, and 61 are being implemented at a cost of EGP 13.5bn.

A total of 4,660 health and education sector projects, worth EGP 46bn, have been completed, with 846 projects worth EGP 100bn being implemented. In the higher education and scientific research sector, 200 projects have been completed at a cost of roughly EGP 9bn, and 521 projects worth EGP 55bn are being implemented.

In the irrigation and agriculture sectors, 1,314 projects worth EGP 38bn were completed, and 338 projects are being implemented, at a cost of about EGP 75bn.

The ministry’s report indicated that Port Said governorate has the largest share of development projects between July 2018 and June 2021, totalling 270 projects worth EGP 357bn. Following behind is Cairo with 1,204 projects worth roughly EGP 343bn, then Giza with 685 projects worth EGP 242bn. Alexandria has 410 projects at a total cost of EGP 134bn in that period.

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