Egyptian government has invested about E£35 billion ($ 4.6 billion) into a wide range of development projects in and around the Sinai region, said a report.

The Central Agency for Construction – that works under Egypt’s Housing Ministry - has contributed E£10 billion ($1.3 billion) for these projects, reported the amwalalghad.  

These funds will be utilised for upgradation of Sinai’s main roads besides for the production of additional power and housing projects for its citizens, the agency head Mohamed Nasser was quoted asa saying in the report.

"The remaining E£25 billion ($3.26 billion) has been pumped into the infrastructure projects in Sinai," stated Nasser.

The Egyptian government plans to launch initiatives for establishing mega developmental projects inside Sinai to encourage investors to come and start businesses there, he added.