New Industrial Complex at 6^th of October
 

Chairman of the Industrial Development Authority (IDA), Eng. Amr Assal, signed on 24/10/2007 a contract for developing the industrial complex, that will be established in the northern expansions of the 6^th of October City, with Eng. Karim Saad, chairman of the Industrial Development Group as an Egyptian-Chinese company comprising (Samcrete Company as an Egyptian partner & the Chinese Pak Group Company and other partners). Eng. Rachid Mohamed Rachid, Minister of Trade & Industry, attended the signing ceremony. This is the 3rd general developer contract, under the new generation of industrial clusters program, signed with the private sector companies within the framework of public-private cooperation locally and internationally.

According to this contract, a 3-phase industrial cluster will be established on an area of 2 million M². The 1st phase will be implemented on 600,000 M² within 3 years; the 2^nd & 3^rd phases will be carried out on 700,000 M² within 7 years as from the date of signing the contract.

180 different size factories will be also built for various industries including: automotive feeding industries, in collaboration with the major automotive factories; engineering, furniture, chemical and pharmaceutical industries.

Assal pointed out that the expected investments of these factories, their equipment, infrastructure and service buildings are valued at LE4.8 billion over 7 years and will create 16,000 jobs in the different industrial, construction and service sectors. Assal expected the production value to hit $2.5 billion annually.

Rachid affirmed that this contract is part of the Ministry's endeavors to develop industrial zones, improve investment climate and draw more industrial investments, in order to increase job opportunities & add new acquired experiences through the international companies working in the field of industrial investment under the new generation of developers program, which is aimed at industrial development depending on business environment, providing highly trained labor and raising investment rates.

Assal said that IDA had started, as of October 16, offering the 2^nd stage general developer lands in the cities of the 10th of Ramadan, El Sadat & Technology Valley in Ismailia for industrial development to both local & international companies and institutions, with a total area of 15 million M² at an investment cost of LE30 billion and to provide 25,000 career opportunities. He added that this stage covers food, spinning, textile and building material industries since they are labor-intensive industries.

IDA chief announced that the 1^st phase will be completed by the end of this month by signing an agreement on setting up the Jordanian industrial zone on an area of 1 million M² in the 10^th of Ramadan City at an investment cost of LE1.8 billion and to create10,000 job opportunities.

The 1^st contract was signed with CPC Egypt Co. for Industrial Development, with Saudi investments for establishing the 1^st industrial assembly on an area of 1.5 million M². The investments of this assembly are expected to reach $700 million and offer 10,000 employment opportunities in a number of industrial projects of building materials, garments, textiles and foodstuffs.

The 2^nd contract was signed with the Turkish Polaris Company with joint Egyptian-Turkish investments to set up an industrial cluster, encompassing 150 factories on an area 20 million M², at the 6th of October City with investments of LE4 billion and provide 22,000 jobs.

It is worth mentioning that the total land area allocated for industrial developers in the 1^st phase, which started mid of last October, came to 17 million M² distributed to the 10^th of Ramadan, 6^th of October & Borg El Arab industrial zones with total investments of LE34 billion and offer 135,000 job opportunities.