Egypt’s Industrial Development issues 40M square metres for investors

Big 5

Egyptian Industrial Development Authority (IDA) has issued around 40 million square metres for investors in a number of governorates within the last period, Chairman Ismail Gaber said Wednesday.

Gaber stated that the land plots are located in 10th of Ramadan, Sadat, and Badr cities as well as Menya governorate.

IDA is set to start issuance processes of the lands in 10th of Ramadan and Badr cities in April, the official announced.

He made these remarks during the second edition of the Annual Builders of Egypt Forum took place on 1-2 March 2016.

The chairman added that the government will not be able to make all utilisation works of those lands; hence the IDA is set to issue part of plots for industrial developers within the upcoming period.

On other side, Gaber noted that IDA has already started first steps of granting around 14 new licences to cement sector in addition to expansion licences for steel sector to add around 2.5 million tonnes.