91 Approved Projects With Investments Of LE1.857bln: Minister

Minister of Industry and Foreign Trade Mounir Fakhry Abdel Nour said that the Industrial Development Authority (IDA) issued 91 final approvals for the implementation of new industrial projects within and outside industrial zones.

Abdel Nour added that the companies were established with an investment cost amounting to approximately EGP 1.857bn and have provided 5,765 jobs.

He noted that these projects included nine in the industrial sector, 27 in the chemical industries sector, 25 in the food industries sector, and 25 in the engineering industries sector. In addition, six projects were approved in the textile sector, four in the  mining sector, two in the mineral industry sector and only one in the leather sector.

The minister said that the final approvals were distributed over various governorates; Sharqeya came first with25 projects, followed by Giza with 13 projects, Menufiya and Beni Suef with eight projects each, and Qaliubiya and Assiut with seven projects each.

“There are four projects that were approved in Cairo, four projects in Gharbiya, three projects in each of the governorates of Sohag, Minya and Beheira, two projects  in Suez, and one project in the governorates of Alexandria, Port Said, Fayoum and Kafr El-Sheikh,” Abdel Nour said.

“Sixty-one investors have received approvals on expanding their industrial companies within and outside the industrial zones with investment of about EGP 9.692bn, including the food and textile, chemical, engineering, metal and mining sectors.”

In addition, 63 projects took priority and conditional approvals, including 52 priority projects that provide 4,819 jobs, as well as 11 conditional projects that provide 1,935 jobs.

The projects were distributed throughout 14 governorates; – Cairo, Giza, Sharqeya, Qaliubiya, Daqahleya, Sohag, Qena, Minya, Kafr El-Sheikh , Menufiya, Beheira, Assiut, Beni Suef and Ismailia.

Source: Daily News Egypt