Egypt's President Abdel-Fattah El-Sisi inaugurated on Tuesday via video conference a number of new economic development projects in Suez and South Sinai.
The inauguration event was attended by Prime Minister Mostafa Madbouly, speaker of the Egyptian parliament Ali Abdel-Aal and a number of state officials.
The projects include the Suez Steel Company, the Sumed Maritime Quay, a marble factory complex in South Sinai, and the Iron Rolling Factory 3.
During the inauguration, El-Sisi directed the establishment of fully automated control rooms in all the new industrial complexes.
He stressed that mechanisation and information systems are necessary to counter corruption.
He also said that the road projects being constructed throughout Egypt are “not a luxury" but aim at opening new pipelines for investment.
“Some people may think that some of these roads don't have sufficient traffic density, but all of them are a genuine start to draw investments and build the state,” he added.
He also said that the problems faced by citizens due to floods have been taken into consideration during the design of the new projects, especially roads, pointing that the old and modern roads are connected to allow movement between them.
The president said the initial cost of the new roads was EGP 5.5 billion.
The real solutions for building the state are not simple, and the state during the past five years has put huge investments into Sinai, as it represents the national security of Egypt, El-Sisi said.
He said that the cost of investment projects being implemented in Sinai is up to EGP 800 billion.
Madbouly stressed that all the projects are being implemented in accordance with clear security plans, saying, “We do not wake up and decide to implement projects.”
The national strategic plan for the development of Egypt by 2052 was set by him and other experts, to be implemented in two phases.
“What we were planning to implement in 2027 is done now and we are implementing the plan for 2052,” Madbouly added.
"Our goal is to build a real state through which we will serve our children in the future," the premier said.
According to Major General Mostafa Amin, director-general of the National Service Projects Organisation (NSPO), the iron rolling factory that opened today will produce 1.5 million tonnes of iron annually.
Amin also stated that the Suez Steel Company produces 17 percent of Egypt's iron.