Cairo – Mubasher: The governor of South Sinai, Khaled Fouda, on Sunday said that the governorate is planning to establish the economic Sharm city with investments worth EGP 50 billion.

A global centre for logistic services will be set up in the city to provide approximately 75,000 employment opportunities, according to a statement by the Ministry of Investment.

The plan also includes establishing the Marina Yachts project and tourism resorts in Shark Bay, Fouda added, noting that the Tiba City project will be implemented, as well as the eco-tourism centre project in Ras Kanesa.

He referred in his meeting with the minister of investment and international cooperation Sahar Nasr in Sharm El Sheikh that the plan also involves the establishment of the tourism health spa in the area of Pharaoh's Baths and the new cultural passageway in the area of Naama Bay.

He affirmed that the water desalination plant in El Tor City will be inaugurated by April.

Moreover, Nasr said that the ministry’s priority is to solve the investors’ problems before being reviewed and submitted to the different committees, including the dispute resolution committee.