Burj Elarab Attracts EGP 80 Billion Investments By 2011

Working investment in Burj Al Arab Industrial Zone posted EGP 80 billion by the end of 2011, distributed on various production sectors.

Mohamed Farag Amer, Chairman of Burj Al Arab Investors Association, said to Amwal Al Ghad the total investments injected through Burj Al Arab, until the end of 2011 recorded EGP 100 billion, 20% off investments were halted. A part of halted investments belongs to some Turk and Saudi investors, while the other part faced many problems such as liquidity & working capital flows on low sales affected by the state of uncertainty Egypt is witnessing since last year.

Amer added that those investments are mainly representing food & engineering sectors, while some other investments are meant to be injected in metallurgy & chemical industries. “Those sectors were destined to grow amid the next five years, only if the political and economic statuses were better,” he affirmed.