Borg AlArab Receives New Industrial Investments Worth EGP215 mnl

Borg Al Arab industrial zone in Alexandria will receive EGP 215 million new industrial investments, distributed on 37 new factories in different productive sectors.

Sources in the ministry of industry and foreign trade told Amwal Al Ghad said 37 plots of land were allocated for these factories from July 2011 till June 2012, total area of 107.407 meters. These investments provide 3070 direct job opportunities, and thousands of indirect job opportunities.

On his part, Mohamed Farag Amer, Head of Borg Al Arab Investors Association, told Amwal Al Ghad that the industrial zone has long faced decline of industrial investment volume, due to the post-revolution turmoil, as well the decline of the local and global demand on the Egyptian product.

Amer has called on Egyptian banks to adopt more facilities in loaning the stalled factories in Borg Al Arab industrial zone, as well the new industrial facilities.