Governor of North Sinai, Major General Abdel Fattah Harhour has announced the establishment of a national company for the development of North Sinai.
The company will invest in various areas of economy, industry and agriculture, Harhour said in a press conference held in the Be'r al-Abd industrial area.
The company's capital is yet to be determined, Harhour added, pointing out that it's shares would be offered to the public, with priority given to Sinai residents.
The company will be established in cooperation with the Ayadi Company for Development and Investment, the National Service Products Organization of the armed forces, and the Sinai Development Authority, Harhour said.
Edited translation from Al-Masry Al-Youm