FILE- Egypt's Minister of Trade and Industry Tareq Kabil- Egypt Today
CAIRO – 16 February 2018: Ahmed Abdel Razik, chairman of the Industrial Development Authority (IDA), signed contracts with Polaris Zamil Industrial Park and SDM to establish two advanced industrial zones in Sadat City.
The new industrial zones span a total area of 2.8 million square meters, a statement released by the Ministry of Industry and Commerce said on Friday, adding that this comes within the ministry’s auspicious plan to expand the experiment of industrial development, which enables privately owned industrial companies to integrate more lands for the industrial sector.
Abdel Razik added that the signing of these two contracts comes within the framework of the plan of the Ministry of Industry and Commerce, represented by the Industrial Development Authority, to offer 8-million-square-meter plots of land to be utilized for industrial purposes in Sadat and 10th of Ramadan cities.
He also pointed out that the authority will sign another contract with CBC Egypt to obtain an area of 1.1 million square meters, bringing the total area of land allocated to the industrial zones in the new cities to 3.9 million square meters.
Since 2007 and since the activation of the industrial development system, 12 industrial areas of 15 million square meters were established and developed. They contain 983 factories, along with 168 facilities, with a total investment of LE 25 billion ($1.4 billion), and hence provided 132,000 jobs, the statement added.
In mid-January, President Abdel Fatah al-Sisi inaugurated 296 small factories in Sadat City, including a steel factory that is set to produce 60 percent of Egypt’s steel, 296 small factories, and a technology city, according to sources in Menoufia.
The factory, which spans over 750 feddans, includes seven internal factories – two factories for melting steel, a light factory, a reduced iron factory and an iron scrap factory, in addition to an oxygen station, which is considered the biggest station in the Middle East to provide self-sustainment for the whole factory. It also consists of a limestone factory, which is also the biggest one in the Middle East.