Solving 430 disputes between factories and banks

Maj. Gen. Ismail El-Nagdy, -President of the General Authority for Industrial Development- said that the number of troubled plants that proved their seriousness in resolving the problems with banks amounted to 430 plant in various parts of the Republic, according to the model questionnaire prepared by the Industrial Development Commission for this regard.

He said during the conference, -which gathered the Banks’ Federation and investors in Tenth of Ramadan city-  that the latest statistics for the number of troubled factories was 1685 plant and this number is subject to question due to the lack of seriousness of most of these plants to solve their problems.

Nagdy said that the upcoming situation of Egyptian is so bright, because Egypt is full of fortunes, which witness depletion trials by many countries, such as sands of Sinai that is exported to France at 6 dollar per tons, and then these sands are subject of transforming operations, and then importing them again at inflated prices, beside the radioactive material found in Baltim’s sand, which caused many countries to race razing them, such as Japan and Australia.

Nagdy asked for a manufacturing process to create an added value to the phosphate that is exported at 100 dollars per ton, as if another 100 dollars being spent on it as a production cost we will be able to export it at $ 800 per ton.