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 Eng. Amr Assal, chairman of the Industrial Development Authority (IDA) revealed, in his meeting with the members of the chemical industries chamber, that the aim of the industrial developer program is to develop the industrial lands in the areas granted for the developers. Assal illustrated that the industrial investor has the right to owe the land while the developer doesn't indicating that the industrial developer is responsible in front of IDA to operate the factories built on developers' zones and employ labors.
Construction will be on an area not less than 40% and not more than 65% of any area allocated for the investor, indicating that the maximum price of the land is LE285 for the meter and the price average is not more than LE200. He also added that these prices will be annually revised and the investor will receive the land fully-utilized after paying the whole price, Assal declared.
Assal pointed out that in the 2nd stage of the industrial developer program, 13 industrial zones will be established in order to develop 25 million m2 during the next year, 44 developers submitted their offers and 24 of them were accepted. Assal confirmed that the offers will be received till 20th of August so as to announce the result affirming that the industrial developer will provide a fully - utilized land with an area of 45 million m2 through over 2 stages.
Assal called the investors for investing in Upper Egypt to utilize the available infrastructure and the incentives which reach 25% of the investment costs for any project. The investor also will obtain LE15.000 for each job opportunities, he provides, in the shape of discounting the costs of electricity, water and gas connection. Assal also indicated that the industrial lands' prices differ from governorate to another according to the land cost besides the availability of free lands in Upper Egypt.
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