PM attends signing ceremony of protocol

Prime Minister Sherif Ismail attended on Tuesday the signing ceremony of a cooperation protocol to build an integrated agricultural city in Egypt.

The protocol was signed by the General Authority for Reconstruction Projects and Agricultural Development, affiliated to the Agriculture Ministry, and the Korea-Arab Society, represented by the Korean Arab Company for Economic and Cultural Consultancy.

Speaking at a press conference following the signing ceremony, Agriculture and Land Reclamation Minister Abdel Moneim el Banna said that the protocol was one of the important outcomes of President Abdel Fattah El Sisi's visit to South Korea in March 2016 and his call on South Korean companies to invest in Egypt.

Under the deal, an integrated agricultural city will be stretched over an area of 300,000 feddans in the southeast part of the Qattara Depression in the north west of Egypt.

The project, worth 10 billion dollars, includes agriculture projects to be carried out as per the latest agricultural methods and technologies.

Within the framework of the project, 50,000 smart storage silos will be established, as well as projects to produce fodder and cultivate "Stevia", the healthy alternative sweetener and sugar substitute.

The project also involve the establishment of seawater desalination and solar power plants.

The Korean Arab Company for Economic and Cultural Consultancy will conduct the feasibility study to implement the project within six months.

Source : Mena