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Announced by Saudi business tycoon Sheikh Saleh Kamel, Josour Company was first announced in November 2014, to hold a capital of LE 4 billion.
The bid areas are Wadi Dara and West Ghareb at 50 km and 20 km of space respectively.
Around $1.5 billion were accessed from Arab funds for development projects in North Sinai governorate, Minister of Investment Sahar Nasr said Sunday.
Under the new law, the industrial licenses will be given in less than a week, but the risky industries will get permits in less than 30 days.
Egypt is planning to import 80 cargoes of liquefied natural gas during the 2017-18 financial year that began in July.
Under the contract, Siemens will undertake design, engineering, construction, supply, installation and commissioning of the two substations.
The project will include developing Gamasa City, in Dakahlia as well, with the cost of LE 100 billion ($5.6 billion).
The Egyptian Exchange (EGX) indexes lost ground by the close of Sunday’s trading, hurt by local sell-offs.
Rice producers usually opt for exporting, which causes the increase in the good’s price locally.
Ministry of Petroleum renewed Sunday usage rights of the areas
needed to build Asyut-Sohag butane gas line for one more year, according to a decree published by the Official Gazette.
The average yields on Egypt's three- and nine-month treasury bills were mixed at an auction on Sunday, central bank data showed, after falling sharply over the past week on the back of higher dollar reserves at the central bank.
The shipment is part of a project taking place in Toshki at New Valley governorate at a cost of LE 890 million.
The deficit dropped to 46.5 billion riyals ($12.4 billion) in the April-June period from about 58.4 billion riyals a year earlier.
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