19 August 2018 10:55 PM

Sisi: Updated infrastructure needed for economic reform program

Friday، 19 January 2018 - 12:03 PM

President Abdel Fattah El Sisi underscored on Thursday the importance of having an updated infrastructure so that Egypt can apply its ambitious economic reform program that meets the aspirations of the people.

 

Sisi also noted that having developed infrastructure can help lure investors into the Egyptian market.

 

The president made the remarks during the second day of the "Story of a Homeland" conference, which is attended by a number of ministers, officials and youths.

 

The conference kicked off on Wednesday.

 

At the beginning of his speech at the first session of the second day of "Story of a Homeland" conference, President Sisi talked about the energy sector as being one of the basic elements of infrastructure.

 

Also, he cited the importance of the sources of energy, especially natural gas and electricity in supporting ongoing projects.

 

"If we are keen to lure foreign investors to establish projects in the country, then we have to meet their requirements, notably providing sufficient electricity for meeting the domestic demand, factories' needs and newly established investments," Sisi said.

 

The president reminded the the Egyptians of the power problems that have been recurrent in 2013 and 2014, noting that the problem of power outage has come on an end before the end of 2015.

 

He thanked the Egyptian people for their patience to bear the harsh measures taken during the past period to satisfy their demands and aspirations, in addition to solving their problems.

 

Sisi went on to say that the state scrambled to resolve the problem of power outage faced several factories in 2015/2016 to help them continue work and prevent more layoffs.

 

The state rushed to build new electricity generation stations and develop a huge program for carrying out necessary maintenance of the existing plants to supply electricity to all governorates, Sisi added.

 

The president hailed the infrastructure program as being one of the main elements to entrench the Egyptian state.

 

During his speech, President Sisi touched on electricity distribution networks and power control plans being built to modernize the power grid, stressing that the state seeks to export electricity to Europe, Asia and Africa.

President Abdel Fattah El Sisi said that national production will ease burdens pressing on Egypt’s economy.

 

He added that the national production will help the government to avoid importing goods as well as preserving foreign-exchange reserves allocated to importing materials and goods.

 

Concerning the Zohr gasfield, the president said that he persuaded the Italian company (ENI) to make the gasfield ready for production by 2017. He added that early production will monthly save up to dlrs 100 million to 180 million for the country.

 

He added that solving problems concerning electricity and natural gas required great measures and money, adding that solving these problems was necessary to attract investors to work in Egypt.

 

President Abdel Fattah el Sisi added that the country must be developed in order to head towards achieving a better future.

 

Concerning butane gas problem that was facing the country, he said that the government had established stores nationwide and other strategic stores of butane gas to meet the needs of the citizens especially during the periods when the ports are closed. The president also added that the government is also keen on supplying houses with natural gas.

 

Meanwhile, the president added that the government is currently establishing a 400-km regional ring road to be inaugurated on June 30, 2018, adding that this road will link Egypt’s governorates.

 

He noted that the government was keen on establishing the national road network in order to link all the governorates with each others. He added that countries that seek development and prosperity aim at building and investing new roads.

 

Sisi added that 200 bridges were established over railway level crossings in order to ease traffic. He underlined that in order to attract more investors to work in Egypt, the government was keen on building a developed national road network that enables investors to easily reach ports, markets and airports.

As for the problem of sanitation, Sisi said the state plans to establish a sewage treatment plant in East Port Said, with an average capacity ranging between five and six million cubic meters and another plant in Sarabium village of Ismailia governorate, with a production capacity of one million cubic meter to use them in safe agriculture in accordance with international standards .

 

With regard to Sinai, he underlined that the state aims to make good use of the two sewage treatment plants to cultivate some 400,000 to 450,000 feddans in Sinai.

 

In respect of railway and underground, President Sisi asserted the importance of optimizing and developing the two vital facilities to avoid train accidents and delays, which in turn could help offer excellent service to Egyptians.

MENA

Related Stories

Most Visited

From To