6^th Industrial Developer Contract with $1bln Investments
 

Eng. Rachid Mohamed Rachid, Minister of Trade and Industry, attended on Thursday, November 8, the signing ceremony of the establishment & development contract of an industrial complex in the 10^th of Ramadan City between Eng. Amr Assal, chairman of the Industrial Development Authority (IDA), and Halim Osama Salvaty, chairman of the Investment Clusters Company - Egypt for Industrial Cities and Real Estate Development, one of the Jordanian Investment Clusters Group. The new contract is aimed at developing 1 million and 99,000 m² with $1 billion investments and creating 50,000 job opportunities. It is the 6^th one under the new generation of industrial clusters program, applying the general developer system.

According to this contract, 150 factories will be set up in Zizenya at the 10^th of Ramadan City including an administrative building for the cluster management besides providing all the necessary services for a proper industrial climate such as healthcare, commodity transportation center, fully-equipped training center, communications center, technical & mechanical workshops, clinic, security services and retail outlets. 55% of the area will be allocated for other industries like jewelry, furniture, pharmaceuticals and footwear.

Rachid affirmed that this contract comes within the framework of the Ministry's efforts to develop industrial zones so as to improve the investment climate, attract more industrial investments, and increase the experiences acquired from the international companies as well as creating more job opportunities. For his part, Assal stated that this zone will be matchless with its factories that will be built and rented to investors to install production lines immediately. This contract will raise the number of Arab countries which obtained development contracts to 3 companies, Assal said.

Signing this contract marks the end of the 1^st stage of offering industrial development lands, which started mid last October, applying the general developer system. The said stage covers a total area of 17 million m² distributed to the 10^th of Ramadan, 6^th of October and Borg El Arab industrial zones with total investments of LE37 billion and providing 175,000 job opportunities. On the other hand, the 2^nd stage lands were offered, starting from the 16^th of last October, to the local & international companies and institutions. The lands of the 2^nd stage cover a total area of 15 million m² with LE30 billion investments, providing 125,000 job opportunities and accommodating food, weaving, textile and building material industries.

It's worth mentioning that 5 general developer contracts were concluded as follows: the 1^st contract of C.P.C Egypt for Industrial Development with Saudi investments; the 2^nd one of the Turkish Polaris Company with Egyptian-Turkish investments; the 3^rd of Samcrete-Pak Group with Egyptian-Chinese investments; the 4^th for developing and upgrading the 1^st Egyptian–Chinese industrial zone in conformity with the highest international specifications; and the 5^th with the Qatari Diar Company.