Tarek Qabil:inaugurates new production lines with EGP 3.5bn investmentsSource: www.export-egypt.com 7/29/2016, Location: Africa |
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 Trade and Industry Minister Tarek Qabil announced that one million meters of the new industrial lands at Sadat City will be put out to a tender in September as part of the ministry's plan to provide 10 million square meters of land by the end of the current year.
He said many industrial lands were offered over the past few months, including 2 million meters in Minya, adding that it is planned to provide lands in the industrial cities such as in 10th of Ramadan and Borj el Arab cities. Qabil underlined that his ministry is keen on offering industrial lands, providing technical support and facilitating measures of getting licenses for the investors to encourage them establish new industrial ventures and expand the existing ones so as to upgrade the industrial sector which is a main pillar of the national economy. Qabil underscored that the ministry has also finalized 95% of the complete strategy of the Egyptian industry and will be declared soon, noting that it will depend on achieving comprehensive industrial development in all the governorates. These remarks came during the minister's tour that he made in Sadat City's industrial zone where he inaugurated new production lines of sponge iron and fertilizers. He also inspected two factories for producing construction materials and textile products. The minister was accompanied during his tour with Monofiya Governor Hisham Abdel Basset and number of MPs representing Monofiya. Qabil reiterated that the expansion in establishing industrial projects is part of his ministry's strategy to develop the industrial sector during the coming phase, a matter which will create new job opportunities. He pointed out that the country seeks removing the obstacles hindering the investment movement to increase the industrial growth and exporting rates. |
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