48 investors vying to get New Aswan Free Zone’s lands – minister

Around 48 investors submitted offers to obtain 233,004 square metres in a free zone located in south-west New Aswan City, said Investment Minister Sahar Nasr on Thursday.

These offers represent 44.6 percent of New Aswan Free Zone’s planned land plots, with investments worth $40 million, Nasar added.

“New Aswan Free Zone comes as part of the Investment Ministry’s plan to set up seven free zones in Minya, Giza, Aswan, Dakahlia, South Sinai, and Kafr El Sheikh governorates as well as New Ismailia city,” she said.

The seven free zones will include more than 1,000 projects, the minister added.

New Aswan Free Zone is to encompass 160 flagships, with investments totalling $2.3 billion and would provide 15,000 job opportunities, Nasr said.