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Egyptian billionaire Naguib Sawiris has offered to buy an island off Greece or Italy and develop it to help hundreds of thousands of people fleeing from Syria and other conflicts.

The telecoms tycoon first announced the initiative on Twitter.

Greece or Italy sell me an island,ill call its independence and host the migrants and provide jobs for them building their new country

— Naguib Sawiris (@NaguibSawiris) September 1, 2015

Crazy idea .. Maybe but at least temporary until they can return to their countries ??!!

— Naguib Sawiris (@NaguibSawiris) September 1, 2015

More than 2,300 people have died at sea trying to reach Europe since January, many of them Syrians who fled their country’s four-and-a-half year conflict.

Sawiris said in a television interview that he would approach the governments of Greece and Italy about his plan.

Asked by AFP whether he believed it could work, he said: “Of course it’s feasible.”

“You have dozens of islands which are deserted and could accommodate hundreds of thousands of refugees.” Reuters reported.

Sawiris said an island off Greece or Italy could cost between $10 million and $100 million, but added the the main thing is to investment in infrastructure.

There would be “temporary shelters to house the people, then you start employing the people to build housing, schools, universities, hospitals.

He said that if things improved back in their country, those who would want to return to their  homeland were free to do so.

He further said that those who would be sheltered will be treated like human beings and not as “cattle”, as they are being treated.

Sawiris is the chief executive of Orascom TMT. The company  has investments in mobile phone, media and technology companies in Egypt, Lebanon and Pakistan.

Along with his brother,  Sawiris has pledged to invest heavily in Egypt following the ouster of former President Mohamed Morsi.