Egypt extends Alstom’s land lease for major railway industrial complex

Egypt’s Cabinet approved on Wednesday an extension to the land lease for French company Alstom, allowing it to establish a major railway industrial complex in Borg El Arab, Alexandria. The lease term has been increased to 30 years, up from the original 15 years, in accordance with the Investment Law No. 72 of 2017 and its regulations.

The extension comes as Alstom plans a substantial investment in this large-scale industrial project, which will see the construction of two factories across 40 feddans, with an additional 50 feddans reserved for future expansion. The first phase of the project involves setting up a component manufacturing plant spanning 13 feddans, while the second phase will focus on building a vehicle manufacturing plant on 27 feddans.

Attribution: Amwal Al Ghad English