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In a news release to Akhbar El Yom, Minister of Trade and Industry, Rachid Mohamed Rachid stated that the industrial activity distribution nationwide to localize workforce will be observed in the coming phase of the industrial development plan. Rachid pointed out that the development plan is based on 4 geographic areas: Suez Canal and Port Said area with investments of up to LE180 billion over 20 years. A Dutch consulting group will implement the project plan and the implementation contract will be signed within days. The 2nd geographic axis of industrial development will be in N. Sinai by establishing the industrial holding company with a capital of LE1billion and will be fully owned by the government. This company will work out the programs needed for utilizing and developing natural & human wealths and resources of N. Sinai. The 3rd geographic axis is Upper Egypt & New Valley in accordance with President Mubarak's electoral program. The projects there will have special advantages. A feasibility study was prepared for about 96 types of small industries in different industrial fields to be displayed on IDA's website early next September. The development plan also includes the Delta through utilizing the unused lands in the public enterprise sector's companies, Rachid elaborated, saying that the 1st stage had started. Lands were allocated for 6 projects with LE300 million investments to provide 3,000 job opportunities, he added, referring to another zone to be set up in Mahalla Al Kobra for spinning & textile industry. Regarding energy prices, Minister Rachid stressed that the issue of energy represents a challenge for global industry, and that it will play a vital role during the coming two decades in the patterns of industrial technology. He announced that an energy rationalization fund will be established with investments valued at LE500 million. The new energy prices will not affect the investments of new factories especially in Upper Egypt, since these prices will be applied only to intensive energy industries with annual consumption of 66 million cubic meter of gas or 50 million kilowatt of electricity, Rachid explained.
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