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 Prime Minister, Dr Ahmed Nazif, accompanied with Minister of Trade and Industry, Rachid M. Rachid, and the German ambassador in Cairo, on Thursday 19/2/2008 laid the foundation stone of the 1st German industrial zone in Egypt. The new zone covers an area of 4 million m2 in the 6th of October City, at an investment cost of $800 million, and provides 16,000 job opportunities. IDA Chairman, Eng. Amr Assal said that the German zone will encompass 180 factories for automotive and engineering industries.
Rachid pointed out that the project, implemented by the Industrial Development Group, comes within framework of Mubarak – Mirekel Initiative for developing engineering and automotive feeding industries under the Ministry of Trade and Industry's program for developing a new generation of industrial parks in Egypt. The German zone's foundation stone ranks second after laying the foundation stone of the Turkish industrial zone, applying the general developer system.
This project, executed by the Industrial Development Group, which is an Egyptian company, comprises Samkrit Company, as an Egyptian partner, the Chinese Pak Group and other partners, Rachid elaborated. The project will house 180 factories, with an area of 3000 m2 - 100,000 m2 each and an expected production volume of $2.5 billion annually, he said. Most of the zone's production will be imported to the European and East Asian countries, he added.
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