The Cabinet approved during a meeting chaired by Prime Minister Sherif Ismail on Thursday the participation of North Sinai Governorate in founding the national company for Sinai investments as an Egyptian joint stock company.

The approval comes according to law no. 159/1981.

The company has a capital of EGP 10 billion and it aims at developing the Sinai Peninsula in various sectors, such as agriculture, food manufacturing, building materials and tourism.

Source: MENA