Dr. Sahar Nasr - the Minister of Investment and International Cooperation, Major General Tariq Saad Zaghloul - Head of the Armament Authority and Major General Ihab Al Far - Head of the Engineering Authority of the Armed Forces witnessed the signing of a contract for the implementation of the water treatment plant of Bahr Al Baqr with a capacity of5 million m3 /day between the Engineering Authority of the Armed Forces and the Joint Venture of Orascom Construction and the Arab Contractors Company. The contract value is 739 million US$. This was in the presence of Advisor Mohamed Abdel Wahab - Vice CEO of GAFI and Ghadir Hijazi - Assistant Minister. The contract with the Engineering Authority of the Armed Forces was signed by Eng. Mohsen Salah – CEO and Chairman of the Arab Contractors Company and Eng. Osama Bishai - CEO of Orascom Construction, in the presence of Eng. Sayed Farouk – Senior Vice Chairman of the AC and Eng. Ahmed Abbass – AC Board Member. The treatment plant is a component of Bahr Al Baqr Water System which is considered the most important projects of Sinai Peninsula Development Program. The project value is 1 billion US$. Dr. Sahar Nasr praised the role of the Engineering Authority of the Armed Forces in the execution of the project due to its importance in enhancing the management system of water resources through the optimal use of the available water resources and reducing its waste in order to increase the agricultural area in Egypt in general… and Sinai Peninsula particularly. Dr. Sahar declared that the ministry succeeded in providing the required funding for the project from both the Arab Fund for Economic and Social Development and the Kuwait Fund for Arab Economic Development. The project includes the construction of water treatment plant in Bahr Al Baqr with capacity of 5 million m3/day. It is the largest plant in the world and will be used to reclaim 330,000 feddans east of the Suez Canal;in addition to 70,000 feddans currently cultivated in Sahl Al Tinah and Qantara Sharq. Consequently the total of the cultivated land will reach to 400000feddans. Besides, the construction of integrated agricultural development projects (agricultural, livestock and industrial production) that will increase the quantities of exports and reduce imports in addition to creating new business opportunities to about 40.2 thousand jobs divided among the fields of agricultural manufacturing, animal production, management of the transport system, water treatment, the purification of tunnels and sewage, and building and construction works. The total number of the projects supported by the Arab Fund in Egypt is 63projects in the fields of electricity, agriculture, education, irrigation,transport, industry, mining, water and wastewater and social services; it was financed by about 1.5 billion KWD (equivalent to 5 billion US$). The total number of the projects supported by the Kuwait Fund for Arab Economic Development since its establishment in Egypt is 50 projects in the fields of agriculture, electricity, transport, industry, water and wastewater; with financing reached about 3.65 billion US$.