5 bn Meters of Lands Available for Industrial Investments

Industry and Foreign Minister Hatem Saleh said on 8/9/2012 the ministry is to allocate 5 million square meters of lands for industrial investments in 9 zones. The Minister pointed out these lands will be used to complete the industrial development plans as well to allocate 20 percent of the lands for small industries to meet investors' needs.

The ministry is keen on pushing production wheel forward through increasing production to raise the growth rates within the coming stage, he added. He inaugurated Saturday three new plants at LE 283 million investments in the fields of food and power industries. He noted Egypt enjoys political and security stability which leads to attract more foreign investors and to pump more investments to the Egyptian markets.

The inaugurated plants include a plant to produce concentrate and a new production unit for macaroni at LE250 million investment, with LE600 million production per year to provide 1100 job opportunities and to export 60 percent of its production, the second plant produces flavours at LE13 million investments with production valued at LE80 million providing 80 job opportunities, while the third plant produces electric transformers at LE 20 million investments providing 130 job opportunities. The nine industrial zones are at al-Sadat, al-Nuberiya, Beni Suef, Kafr al-Doar, Sohag, new al-Salehiya, North of GULF of Suez, Borg al-Arab and Assuit.