Golden Triangle development project is a vital national project, PM

During a recent meeting, Prime Minister Mostafa Madbouly recognized the Golden Triangle Economic Development Project’s strategic location and potential, identifying it as a major national project of highest importance.

Madbouly met with Adel Saeed, the Chairperson of the General Authority for the Golden Triangle Economic Zone (GTEZ), to discuss the progress of the Golden Triangle development project in the Eastern Desert. The Prime Minister began the meeting by reiterating the Egyptian State's unwavering commitment to achieving its ambitious plans for the region's development, according to an official statement.

The meeting emphasized the Safaga region, prioritizing it as a crucial phase in the Golden Triangle Economic Development Project. The Golden Triangle lies on the outskirts of Qena and is home to Abou Tartour, a mining area that holds the largest phosphate reserves in Egypt, estimated at almost a billion tons of phosphate rock.

Madbouly also called for calculating the cost of providing essential infrastructure to this area, as various investors have expressed interest in establishing diverse projects in the region.

Saeed explained the investment opportunities in the economic zone through a study prepared by a specialized company in this field, pointing out that the region has been divided into several activities, including industrial, agricultural, tourism, and renewable energy.

The Government of Egypt has set its sights on developing the Golden Triangle Economic Zone (GTEZ), established in late 2017, encompassing Qena, Safaga, and Al Qusair, considered one of the richest areas of mining sources in Egypt, accounting for 75% of the country’s mining minerals

In terms of industrial activities, designated land has been allocated in Safaga's industrial zone 9.1 for the implementation of industrial projects. The agricultural sector comprises four areas, with a significant focus on Qena Governorate and utilizing groundwater resources.

The study also identified suitable locations for solar and wind power plants. The authorities have reached out to the new and renewable power board to explore these projects further, the statement explained. Additionally, logistic activities will play a significant role in the economic zone's development.