On space of 33mln m2, Egypt studies building industrial zone in Faiyum

Egyptian industry ministry is currently studying the technical studies necessary for establishing inclusive industrial zone in Faiyum governorate within the coming period, Minister Tarek Qabil announced Tuesday.

The zone is set to be established in north Faiyum on the space of 33 million square meters, the minister stated.

He made these remarks during his meeting with members of Egyptian Union For Investors Associations chaired by Mohamed Farid Khamis.

Qabil clarified that three local and foreign firms are currently creating project’s designs to be submitted to the ministry in order to choose best offer and start execution works.

The minister added that state’s ministry plans to issue land plots with spaces of one million square meters in Badr City for industrial developer to be utilised through  usufruct system.

Egyptian industry and trade ministry is developing a comprehensive strategy to enhance and develop state’s industrial sector that represents the main core for the national economy.

During the meeting, both sides emphasised on the importance of upgrading standard specifications and apply them on all products whether the locally-produced or imported ones.

On other side, Khamis asserted that the union supports the procedures and decisions made by the ministry recently to save Egyptian industry as pursuant to the hard conditions that the economy witnessed during the last period.

He noted that the union keen on making more procedures and decisions to enhance local industry.