Egypt PM to inaugurate $560 mln worth of projects: report

Egyptian Prime Minister Ibrahim Mihleb says he will inaugurate projects in four provinces worth four billion Egyptian pounds ($559.24 million) after Eid al-Adha on Oct. 4, a local newspaper said Wednesday.

Mihleb told Al Masry Al Youm the four provinces to benefit from the projects are Asyut, Gharbiya, the Red Sea and Port Saeed.

He said he would visit Asyut to open 1,050 residential units that will go to those on limited incomes. Each residential unit will cost about 100,000 pounds, 5,000 would go as down payment and the rest mortgaged.

Mihleb will be visiting Port Saeed to open residential units there as well.