Cost of infrastructure projects in Egypt worth $400 billion within 7 years, Sisi

CAIRO – 14 February 2022: President Abdel Fattah al Sisi witnessed, Monday the inauguration of Egypt’s fifth Petroleum Show (EGYPS 2022).

In his speech Sisi said that the African countries paid a high cost as a result of long colonialism and the exploitation of its resources. He noted that this resulted in high rates of poverty and illiteracy among the African people, which should not be an acceptable situation any more.

 

“Egypt managed to achieve economic growth during the Corona pandemic, and we were never afraid it”, Sisi said, adding that the cost of infrastructure projects in Egypt worth $400 billion within only seven years.

He said that the infrastructure of the African countries needs a lot of work and investments to reach an acceptable state.

“Hayah Karima initiative costed $40 million in order to put Egypt on the right path”, Sisi said.

Later, President Sisi started an inspection tour at Egypt Petroleum Show (EGYPS 2022).

The tour followed a roundtable, which was attended by president Sisi with Minister of Petroleum and Mineral Resources Tareq el Mulla attending.

The seminar is themed "Developing a unified vision toward energy transition in Africa and efforts to combat climate change in the continent ahead of climate summit (COP27)."

A wide number of heads of global and local energy companies, international oil and gas organizations and petroleum industry experts are present.