Egypt’s IDA launches 6.9 million sqm land plots in Sadat City in 2yrs
Egypt’s Industrial Development Authority (IDA) launched a number of land plots over 6.9 million square metres in Sadat City, 94km (58 miles) north of Cairo, during the last two years.
These land plots are expected to attract investments worth around 7.3 billion Egyptian pounds ($411.3 million), Egyptian Industry and Trade Minister Tarek Qabil said Monday, referring that they will create about 29,000 direct job opportunities and 120,000 indirect job opportunities.
The Egyptian minister further made his remakes during visiting Menoufia governorate in the presence of President Abdel Fatah al-Sisi, who inaugurated a bunch of developmental projects there.
IDA has launched four million square metres out of the total number of these lands plot for the industrial developers of the private sector,” Qabil said.
Established in 1978 over 9,063 feddans, the industrial city has 632 factories, with investments totalling 24.5 billion pounds namely in the sectors of textile and building materials, including iron, steel, ceramic, porcelain, and glass as well as chemical, engineering, and food industries.