CAIRO: A national investment company will be established to boost economic, touristic, and agricultural sectors in North Sinai, the North Sinai governor Abdel Fatah al-Harhour told state-owned MENA agency Saturday.
The company will begin with a capital of 500 million pounds, and will partner with the National Investment Bank and the armed forces, with an aim to increase development in the peninsula.
The restive governorate has been the target of a number of security campaigns, especially since the 2013 ouster of Mohamed Morsi.
The first phase of the Right of the Martyr operation was finalized in the northeastern part of North Sinai, including Sheikh Zuwayed, Rafah, and Arish, the military announced Sept. 27.
The main phase of the operation was carried out in 16 days, killing 535 “terrorists,” arresting 634 wanted persons, dismantling 478 bombs, and destroying 613 “terrorist hubs,” 111 armed vehicles, 250 motorcycles and 38 explosive storehouses, the military stated.