The Egyptian Armed Forces Engineering Authority has signed a $739 million deal with a consortium of Orascom construction and the Arab Contractors to implement the water treatment of Bahr Albaqar drain.
The Minister of Investment and International Cooperation, Sahar Nasr, witnessed the signing ceremony. The project is part of the Sinai Development Programme which is implemented with a cost estimated at $1 billion.
The project includes the construction of a 5 million m3 per day water treatment plant in Bahr Albaqar, which is the largest in the world, It will help in reclaiming about 330,000 feddan in east of the Suez Canal.
Nasr praised the engineering authority’s vital role in implementing the project, affirming the importance of boosting water resources’ management systems that helps in offering the best usage of the available water resources, as well as limiting the water waste in order to be used in increasing the agricultural land areas in the country.
The MIIC succeeded in providing the needed funds for the project through the Arab Fund for Economic and Social Development (AFESD), in addition to the Kuwait Fund for Arab Economic Development (Kuwait Fund), the minister added.
The AFESD financed about 63 projects in Egypt’ sectors of electricity; agriculture; education; irrigation; transportation; industry; mining; drinking water; sanitation, and social services, the statement mentioned with a total financing of about $5bn.
Meanwhile, the Kuwait Fund implemented about 50 projects in Egypt with funds worth of $3.65bn, mainly in Egypt’s fields of agriculture; electricity; transport; industry; drinking water, and sanitation.
