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Cultivation of One Million Feddans Over Coming Five Years
Source: 8/6/2012

The Government of Prime Minister Hisham Qandil has started work to mitigate burdens of the state civil servants and to increase investments. To this effect, Minister of Investment Dr. Osama Saleh, said the coming few days would witness a wide range of measures which aim at pushing forward the wheel of investment and solving the problems facing investors. On his part, Dr. Salah Abdel Momein, the Minister of Agriculture and Land Reclamation has launched a new initiative for reclaiming, cultivating and developing one million feddans in five regions namely southwest Qattara Depression, northwestern coast, northeast Uwainat, Toski and the central axis in Sinai.

The implementation of this project at a rate of 200,000 feddans every year will last for five years with the aim of settling one million citizens in each one of these regions. He said the costs of each region will amount to L.E.12 million, adding the state general budget will not shoulder any burdens. He said National Establishments, Local and Foreign Banks as well as investors would offer low interest financing (2, 1 % for a period of 20 years). On his part, Minister of Transport Dr. Mohamed Rashad al Matiny said all doors are wide open before Arab and foreign investors to invest in the field of transport under partnership agreements.

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