Egypt's President Anwar Sadat laid the foundation stone fro the new Egyptian industrial city of Ramadan on Sunday (29 May), designed to boost the nation's economy.
GV Poster of Egyptian President Anwar Sadat, PULL BACK AND PAN TO new building in Ramadan, Egypt
GV Dancers in street
MV Helicopter coming in to land
MV Sadat and party leaving helicopter
MV Crowd applauding and Sadat walking down street and acknowledges cheers
MV Sadat laying foundation stone for Ramadan industrial project
MV Sadat entering room for news conference
MV Sadat interviewed (in English)
GV Journalists (MUTE)
CU Sadat lighting pipe and answering questions (in English)
REPORTER: "Will you be asking for compensation, for instance for the oil Israel pumped out of the Sinai during eight years of occupation?"
SADAT: "Of course."
REPORTER: "Could you tell us about how much you would be seeking, sir?"
SADAT: "Two point one."
REPORTER: "That's two point one billion dollars?"
SADAT: "Yes, yes."
REPORTER: "Two point one billion dollars?"
SADAT: "Every drop I have put it in my account. Every drop they took from my wells in Sinai. The whole sum is two point one billion."
REPORTER: "You will be asking for compensation on other things? Lost revenue on the Suez Canal?"
SADAT: "For sure, for sure."
REPORTER: "Could you tell us what the overall total would be, sir?"
SADAT: "Well, I can't say because we must prepare it for the peace conference in Geneva. We are preparing the whole thing now."
REPORTER: "But it's two point one billion for the oil?"
SADAT: "Only for the oil. That's right."
SADAT: "What you call the Refusal Front, or some others call it the Rejection Front, well they will always be rejectionists whatever comes in power there in Israel. Either it is Likud or the Mappam...it is a hobby for them. Well, let us not deprive them of this hobby."
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Background: Egypt's President Anwar Sadat laid the foundation stone fro the new Egyptian industrial city of Ramadan on Sunday (29 May), designed to boost the nation's economy. And on the economy, he earlier told a news conference that he will also be seeking major compensation from Israel for the loss of oil revenue when the Sinai Desert was occupied by Israel.
SYNOPSIS:President Sadat has laid great importance on the Ramadan project. The new industrial city, on the cairo-Ismailia road, will play a major part in Egypt's hopes for economic growth. The government was forced to withdraw a series of draconian measures linked with an earlier plan, when riots broke out in the country's main cities last year. Egypt has been hit very severely in the area of its economy because of the need to maintain a strong defence force should another Middle East war break out. President Sadat has been faced with the problem shared by a number of Middle Eastern countries, including Israel -- how to maintain a strong military force while financing new projects for industrial growth. The loss of the Sinai oilfields after the 1967 Arab-Israeli war was another blow to Egypt's finances.
The President was then asked about the Palestinian Rejection front.