Egyptian President Abdel Fattah el-Sisi revealed that the nation has allocated approximately EGP 10 trillion (equivalent to $323 billion) for numerous infrastructure projects, a step forward in strengthening the national economy and enhancing the country’s development framework.
This extensive investment, as elucidated during his response to the Housing, Utilities, and Urban Communities Minister, Dr. Assem el-Gazzar, and Transport Minister Kamel el-Wazir, encompasses the establishment of new roads, ports, and comprehensive developments in railway systems.
During the second day of the “Story of the Homeland..Between Vision And Achievement” conference in the administrative capital, el-Sisi underscored the extensive financial allocation of EGP 10 trillion exclusively to these projects and highlighted that Egyptian companies are the entities executing these undertakings.
He elaborated that if foreign companies were to implement these projects, costs could skyrocket to approximately EGP 30 trillion due to potentially higher investment scales.
Despite the lofty expenditures and challenging economic circumstances, el-Sisi affirmed that the government’s execution of national projects primarily targets “safeguarding Egyptian national security.”
Moreover, the Egyptian President urged the government to expedite the completion of developmental projects in ports, railways, and roads, setting an ambitious target deadline of 2025.
He specified, “We are talking about finishing [projects related to] the Port of Alexandria and other ports, and developing railway and road projects in 2025, not in 2030.”
These mammoth infrastructural endeavors not only spotlight Egypt’s pivotal approach to developing its physical networks but also set a precedent for enhancing national security and economic stability through robust infrastructural underpinning.
