Cooperation Protocol between IDA and Sharkia Governorate

Chairman of the Industrial Development Authority (IDA), Eng. Amr Assal signed on Thursday, corresponding to 24/1/2008, with Sharkia Governor, Counselor Yehia Abdel Meguid, a cooperation protocol according to which a sum of LE10 million will be allotted - as a 1^st phase - out of a total amount of LE63 million earmarked by IDA's Fund for Subsidizing Establishment, Servicing and Development of Industrial Zones for developing the Belbeis – 10^th of Ramadan industrial zone and providing 152 acres of new industrial lands, for setting up 281 factories at a total investment cost of LE180 million and offering 11,000 job opportunities.

Assal stated that the technical studies of the first stage were prepared, covering an area of 72 acres while the technical studies for the 2^nd stage servicing and development are currently in progress, covering an area of 80 acres. The necessary finance will be estimated according to the results of studies, Assal said.

It's worth mentioning that the government plan is aimed at completing the infrastructure in the Delta governorates and Fayoum, in order to save 2.8 million m² fit for industrial investment since LE300 million was spent on developing the industrial zones. These governorates' industrial zones will benefit from the amounts allotted by the Fund, including Abou Khalifa in Ismailia with LE37 million, Kom Awshim in Fayoum with LE40 million, Mubark in Menoufia with LE25 million, Balteem in Kafr El Sheikh with LE5 million, Gamasa in Dakahlia with LE25 million, south Raswa in Port Said with LE10 million and Natrun Valley in Beheira with LE10 million.