New city in Bir al-Abd to be built with LE 100B in investments: Sisi

CAIRO – 23 December 2017: President Abdel Fatah al-Sisi announced on Saturday that Egypt will build a new city in North Sinai’s Bir al-Abd with a cost of LE 100 billion ($5.6 billion) within two years.

Addressing his speech to Egyptian people during the inauguration of a number of projects in the Ismailia Governorate, Sisi called on Egyptians to trust in him.

Bir al-Abed is one of the cities of North Sinai, North East Egypt, that has been repeatedly targeted by terrorist groups. The fact that Bir al-Abed has been hit over and over again by terrorists has encouraged the Government to develop the area.

President Sisi directed the Government in late November to prepare a sweeping plan for developing Bir al-Abed, within which Al-Rawda mosque, which was brutally attacked by terroristic militants, is located.

The Government is directing LE 1.89 billion in investments to the North Sinai Governorate during fiscal year 2017/18, Minister of Planning, Hala al-Said, announced.
Egyptian Federation of Investors Association (EFIA) announced earlier in December the establishment of a new holding company for development in Sinai, particularly in Bir al-Abed.