Minister of Investment Sahar Nasr during her visit to Kafr E Sheikh- Press Photo
CAIRO – 2 August 2017: A free trade zone in the Nile Delta governorate of Kafr el-Sheikh is targeted along with the planned investment zone, Minister of Investment Sahar Nasr said Wednesday.
During a field visit to the governorate with Minister of Military Production Mohamed el-Assar, Nasr said 10,000 feddans (1.038 acres) of land plots will be launched before the end of 2017, according to a statement.
President Abdel Fatah al-Sisi ordered the government, during the 4th National Youth Conference in Alexandria in late July, to draft an investment road map for Egypt’s western governorates.
The road map is set to include new investment zones, urban communities and logistics center.
Kafr el-Sheikh’s investment zone will be established at the cost of LE 200 billion, expected to create 250,000 job opportunities, Nasr said.
It will bring LE 50 billion in revenues to the state, she added.
The development of the government includes 4.8MW Burullus power plant, which is one of three mega power plants currently being developed by Siemens,
A project to develop Burullus Lake at the cost of LE 24 billion is also under development to protect the lake from nearby building violations.