Egypt’s Industry Pumps EGP 930 mln for 22 Industrial Areas

Mounir Fakhry Abdel Nour, Minister of Industry and Foreign Trade Ministry, revealed that the Ministry has started to pump EGP 930 million, in order to provide facilities for 22 industrial areas within the next period.

The Minister said under the last Egyptian Presidency decree to amend the state’s general budget law for the current fiscal year, EGP 3 billion will be paid in order to provide facilities to 35 industrial areas across governorates, along with pump EGP 500 million so as to provide credit facilities for the factories in default which reached 890.

Adel Nour is planning to hold meeting today with Eng. Ibrahim Mehlab, the Housing Minister to look into Suez Canal Axis Development Project, stressing that the government is seeking to take seriously steps regarding the project  during the coming period under the name of Mohab Mamish, the head of Suez Canal Authority, noting that the structure of the project  investments will be purely for the development of Egyptian territory.