CAIRO, June 4 (MENA) - Prime Minister Moustafa Madbouli denied claims on exploiting Nile water in the Jirian real estate venture on the Sheikh Zayed axis.

He clarified that there is a broader vision to utilize the state's unused assets as part of the New Delta Project.

He made the remarks on Wednesday during a press conference after a cabinet meeting.

He explained that the overall vision for developing the New Delta involves reclaiming and agriculturally industrializing land equivalent to the size of 4 to 5 governorates. The water and canals diverted from the Nile will serve the New Delta project, according to him.

He noted that some land is unsuitable for agriculture but will be crossed by Nile water, “so this land will be used for a real estate project, which will increase the value of otherwise worthless land—this is the goal of the Jirian project.”

The premier emphasized that the massive infrastructure implemented by the state as part of the comprehensive New Delta vision is not aimed at the real estate venture itself but serves the New Delta.

The Jirian project utilizes non-arable land to maximize the added value of state assets in partnership with the private sector, generating revenue to cover part of the New Delta establishment costs, according to him.

He clarified that the broader vision is to benefit from state assets, and the claim that Nile water is being exploited for a real estate project is incorrect. The venture is designed to use irrigation networks to serve the Delta while promoting water use efficiency, he said.

Meanwhile, he noted the Central Bank’s announcement of a significant increase in remittances from Egyptians abroad by 82.7% from July 2024 to March 2025, reaching about $26.4 billion compared to $14.4 billion in the corresponding period last year, thus reflecting Egyptians’ confidence in the country’s economy. (MENA)
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