Italy’s D’Appolonia delivers Golden Triangle project’s initial studies next October

Italian D’Appolonia Company targets finishing the strategic plan for Golden Triangle project and delivering project’s initial study for Egypt’s industry ministry next October, the outgoing minister Monir Fakhry Abdel Nour said Monday.

The company is set to finish project’s plan in February 2016, Abdel Nour stated.

He made these remarks during the Egyptian-German Business Forum organised by the Federation of Egyptian Chambers of Commerce in cooperation with the German-Arab Chamber of Industry and Commerce.

D’Appolonia S.p.A. is the operational arm of RINA, developing and offering engineering services such as Consulting Engineering, Design, Project Management & Control, Special Studies and Operability Assurance.

The Golden Triangle project aims to take advantage of the country’s under-tapped mineral resources and develop Upper Egypt

It targets establishing new industrial capital city through constructing a global, touristic, mining, economic, commercial, and industrial centre. It will also create a logistic and economic centre northwest of Safaga, which will operate mining activities to make use of the Eastern Desert’s Golden Triangle.

This area extends from Edfu, south of Qena, in the Nile Valley to Marsa Alam on the Red Sea coast and Safaga in the north.

The outgoing minister added that the studies are encouraging due to the minerals and materials that the area owns to attract investments.

Within the upcoming few days, the ministry will announce new strategy for autos manufacturing to attract more investments to automotive and auto feeding industries sectors, the outgoing minister clarified

Abdel Nour noted that the Egyptian- German relations is currently witnessing a huge development after President Abdel Fattah al-Sisi’s visit to German June 2015 in which he invited the German firms to boost their investments in Egypt.

Moreover, With the participation of 40 high-profile companies, the forum is held in the presence of Ahmed Elsewedy – Head of Federation of Egyptian Industries; Nader Riad – Head of the Egyptian side of the Egyptian-German Business Council; and Peter Ramsauer former German Minister of Transport, Building and Urban Development and the head of the German side of the German-Arab Chamber of Industry and Commerce.