What is the Golden Triangle project in the Eastern Desert?



The Golden Triangle project is one of the most important major national projects that serve the southern region of Egypt as one of the development projects that depend on the existing mineral resources.
The golden triangle is located on the coastal road. It is the one that connects the eastern borders of Egypt from the north to the southern borders. The triangle area is sandwiched between the Red Sea Governorate in the east and Qena Governorate in the west. It has a waterfront of 80 km, extending between the borders of the city of Safaga in the north and the borders of the city of Qena. And in the short to the south and west. The area of the triangle extends over 155 square kilometers (60 square miles) up to the Qena border.
The primary objective of the Golden Triangle project
Optimal utilization of raw materials in Egypt the main objective of the project, such as gold and phosphates, and increasing their return to the national economy.
The Egyptian government targets total investments of $16.5 billion, within 30 years after implementation. The project will also create great investment opportunities in southern Egypt, especially in the cement, ceramics, and quarries sectors.
“The project will raise the standard of living for the residents of Qena and Sohag governorates.” Ali Hamza, head of the Investment Committee in Upper Egypt at the Egyptian Federation, expected the investor associations that the project would stimulate tourism in the region.
Information about the Golden Triangle project, which the state considers one of its major national projects:
* The project is located in the Eastern Desert, on an area of more than 2.2 million acres, between Qena, Qeft, Safaga, and Al-Qusayr.
* The project includes industrial, mining, tourism, agricultural, and commercial areas.
* The region contains many elements of tourism, such as pristine beaches and archaeological sites.
The region is rich in mineral and quarry resources, such as gold, basalt, white sand, limestone and phosphate rock.
* One of the government’s goals in the project is to direct part of the population to live in the new area instead of the Nile Valley, and it is expected to accommodate about 2 million people.
* The project will be built in 6 phases, the first phase of which will take 5 years, and the project will take 30 years to complete.
* A capital will be established for the Golden Triangle, 100 km away from Qena.
* The Italian company “De Bologna” developed the master plan for the project in cooperation with the Industrial Development Authority.
* The Italian company’s fees were paid in the amount of $1.7 million, with a grant from the Kuwait Fund for Arab Economic Development.
* The volume of project investments is about $16.5 billion.
* The project will provide about 350,000 job opportunities.
* The project achieves annual revenues for the state ranging between 6 and 8 billion dollars annually.
* Infrastructure investments for the project amount to about $2.5 billion.