Egypt’s new advanced leather city aims to achieve sales of 100 million Egyptian pounds during the current year, the head of the city, Yehia Zalat said.
The new manufacturing leather hub is located in the 10th of Ramadan City, on the out skirts of Cairo, spanning over 178,000 metre square.
Zalat told Amwal Al Ghad that The 10th of Ramadan City leather hub has included operating 6 new factories during the last period.
The licences required to establish 14 other factories are being currently being obtained from the Industrial Development Authority.
He added that obtaining the licences will be finalised by the end of September, thus operating 20 factories during the current year.
” The rest of the 50 factories included in the hub’s first phase will be completed next year”, Zalat added.
The National Bank of Egypt has provided 30 million Egyptian pounds as a part of a 50 million pounds loan to the hub.