7 industrial complexes to be launched in Upper Egypt: Minister

The Ministry of Industry is currently finishing procedures of 7 new licensed industrial complexes in Upper Egypt during the first half of 2018 Minister of Industry and Foreign Trade Tarek Qabil said Tuesday.

The complexes will be located in Aswan, Luxor, Qena, Sohag, Asyut, Minya and Beni Suef.

The minister has made those remarks during his visit to Qena Tuesday morning, along with Minister of Planning Halael-Said, to follow-up on the development works  there.

This comes as part of the ministry of trade plan to launch 13 new licensed industrial complexes within the presidential initiative to create new job opportunities for the youth.

Qabil further explained that seven of the industrial complexes will be located in Upper Egypt, while the remaining six complexes will be located in Red Sea, Alexandria, Fayoum, Gharbia and Beheira governorates.

These complexes will be launched for investors in the first half of 2018 through the Industrial Development Authority on a 50-year usufruct basis term for nominal rent Qabil added.

The industrial complexes spaces would vary between 50 meter square and 480 meter square for each in food industries, engineering, medical , chemical, textile and construction material fields.

He also noted that the 13 complexes would comprise 4436  units with  expected investments of 5.4 billion Egyptian pounds aiming to create 43,000 direct job opportunities.