Things to know about Nuweiba Free Zone

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Sun, 09 Jun 2019 - 11:58 GMT

Nuweiba- CC via Wikimedia

Nuweiba- CC via Wikimedia

CAIRO – 9 June 2019: By being the newest established free zone after the issuance of governmental decree in April, Egypt Today reviews most significant information about Nuweiba Free Zone.

• In March, South Sinai governor Khaled Fouda announced that the government agreed to establish a free-zone in Nuweiba city, and the decree was issued by the Cabinet on April 15.

• The area of the free zone is 226.5 faddens, about 951,000 square meters.

• Estimated cost of the zone is about LE 970 million.

• The zone will be implemented within two and a half years as soon as implementation procedures begin.

• It will include about 150 projects in different industrial sectors.

• It targets achieving new investments of $1.1 billion.

• Nuweiba Free Zone will provide around 14,000 job opportunities.

• The zone’s expected annual exports are about $650 million after full operation.

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