Egypt's Minister of Planning Hala El-Said has said on Tuesday a project aiming to develop the Sinai Peninsula should be completed by 2022 at a cost of EGP 275 billion Egyptian pounds (approx. $15.6 billion).
In statements to the press, El-Said added that the projects include establishing a fish farm on 15,590 acres in the Suez Canal region, in addition to the establishment of a natural lake in Port Said industrial zone.
The Egyptian state has been encouraging development in the Sinai region in recent years, to combat a militant insurgency waged by terrorist organisations that are based in the northern part of the peninsula.
The plan also includes the construction 10 new road networks, spanning 1,339 kilometres, funded with an investment of EGP 26 billion.
The project includes plans for residential and industrial developments, water desalination plants, hospitals and sewage networks, and a comprehensive network of roads.