AMEDA unveils modernisation steps for African, ME depositories    US Military Official Discusses Gaza Aid Challenges: Why Airdrops Aren't Enough    US Embassy in Cairo announces Egyptian-American musical fusion tour    ExxonMobil's Nigerian asset sale nears approval    Chubb prepares $350M payout for state of Maryland over bridge collapse    Argentina's GDP to contract by 3.3% in '24, grow 2.7% in '25: OECD    Turkey's GDP growth to decelerate in next 2 years – OECD    $17.7bn drop in banking sector's net foreign assets deficit during March 2024: CBE    EU pledges €7.4bn to back Egypt's green economy initiatives    Egypt, France emphasize ceasefire in Gaza, two-state solution    Norway's Scatec explores 5 new renewable energy projects in Egypt    Microsoft plans to build data centre in Thailand    Japanese Ambassador presents Certificate of Appreciation to renowned Opera singer Reda El-Wakil    Health Minister, Johnson & Johnson explore collaborative opportunities at Qatar Goals 2024    WFP, EU collaborate to empower refugees, host communities in Egypt    Al-Sisi, Emir of Kuwait discuss bilateral ties, Gaza takes centre stage    Sweilam highlights Egypt's water needs, cooperation efforts during Baghdad Conference    AstraZeneca, Ministry of Health launch early detection and treatment campaign against liver cancer    AstraZeneca injects $50m in Egypt over four years    Egypt, AstraZeneca sign liver cancer MoU    Swiss freeze on Russian assets dwindles to $6.36b in '23    Amir Karara reflects on 'Beit Al-Rifai' success, aspires for future collaborations    Climate change risks 70% of global workforce – ILO    Prime Minister Madbouly reviews cooperation with South Sudan    Egypt retains top spot in CFA's MENA Research Challenge    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Debt swaps could unlock $100b for climate action    President Al-Sisi embarks on new term with pledge for prosperity, democratic evolution    Amal Al Ghad Magazine congratulates President Sisi on new office term    Egyptian, Japanese Judo communities celebrate new coach at Tokyo's Embassy in Cairo    Uppingham Cairo and Rafa Nadal Academy Unite to Elevate Sports Education in Egypt with the Introduction of the "Rafa Nadal Tennis Program"    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



European Union envoys tour Toshka
Published in Daily News Egypt on 13 - 02 - 2006

CAIRO: Thirty envoys from the European Union concluded a two-day tour of the Toshka Project.
The envoys, representing a range of countries, from Russia to Japan, were invited to tour the project courtesy of the Holding Trade Company in cooperation with the Egyptian Business Counsel, the Minster of Investment and the Chairman of the Egyptian European Business Counsel Ibrahim Kamel.
The envoys were also joined by delegates from the World Bank in Cairo and the Ambassador of the European Commission in Egypt Klaus Ebermann.
The tour, which is part of an inspection visit of this large-scale development project in southern Egypt and included stops at the Mubarak pumping station, was held in order to allow European investors to get better acquainted with the work process and developments in Toshka in addition to the surrounding agricultural and housing projects.
In addition to familiarizing investors with the projects and its latest developments, the visit also aims at promoting the project to attract new local and European investors to foot the bill of the project's total estimated cost of LE 5.78 billion.
According to the Holding Trade Company, the project will also serve to increase the number of cultivated lands to reach one million acres, irrigated using the Nile water as well as underground water.
An urban community will also be established as a result of development of the area around the cultivated land.
Minister of Investment Mahmoud Mohieddin stated that depending on raw material available, various industries could be established.
He also added that the government's role includes building the infrastructure of the project in addition to management and maintenance.
In 1992, the Toshka Project was born, with President Mubarak personally launching what has become the nation's largest project, in the late 1990s, with (construction began in 1997) to create a new delta, designed to ease the population pressure on the centuries-old Nile Valley.
The project mirrors an integrated strategic vision and is a complete system that includes a number of projects in agriculture, industry, mining and tourism domains. It will also include a number of social projects and services such as health and education, which will be introduced in the project's final stages of completion.
While it has been hailed by many, the Toshka Project has also encountered a number of critics. Economists have questioned its profitability and environmentalists are worried about its demands on Nile water.
As far back as 2000, the construction cost of the project has plagued politicians.
I m afraid that this project will turn out to be a drain on the economy, said Ibrahim El-Nimiki, the deputy chairman of the Assembly s Legislative Committee at the time, according to an article in Al Ahram Weekly in 2000.
In the days of former prime minister, Kamal El-Ganzouri, there was a lot of optimism about this project. No sooner had El-Ganzouri been replaced than his rivals in government circles began painting a very pessimistic picture. We, parliamentarians, as well as the man in the street, need to know the truth. Is Toshka an economically feasible project? he was quoted as saying.
The article also went on to state that upon the deputies' request for more information, the minister of water resources and irrigation revealed all the facts about Toshka in parliament.
Some say Toshka was implemented out of the blue and at an unjustified speed. No; Toshka has been on the reclamation map and on the waiting list for implementation, Mahmoud Abu-Zeid was quoted as saying.
According to Al Ahram, at the time Abu-Zeid said that a number of feasibility studies, costing $4.5 million, showed that in ancient times Toshka was the nation s bread and butter.


Clic here to read the story from its source.