Industry ministry inks 30yrs-usufruct agreement on plastics complex in Alexandria

Egyptian trade and industry ministry signed a usufruct agreement with Alexandria governorate on using industrial complex for plastic industries for renewable 30 years. The complex is located at Mirghem area in Alexandria.

The agreement was signed Thursday by Alexandria governor Mohamed Abdel-Zaher and Head of the Executive Arm of the Industrial and Mining Projects, Osama Hashad.

Industry Minister Tarek Qabil stated that this agreement comes among ministry’s plan to develop Small and Medium-sized Enterprises (SMEs).

Qabil noted that the complex achieves ministry’s approach to establish specialised industrial complexes since it is set to make use of its location beside large petrochemical firms in Alexandria. Accordingly, the project would achieve integration  between SMEs and large projects besides providing more job opportunities for youth.

The complex is built on the space of 25 feddans including 240 workshops; 180 units with spaces of 100 metres and 60 units with spaces of 200 metres.

The total cost of the complex is estimated around 48.6 million pounds that have been provided through different funding organisations notably international cooperation, environment, and local development ministries in addition to Alexandria governorate.

Governor Abdel-Zaher asserted that the governorate would participate in the project through providing all available potentials necessary to achieving its strategy to upgrade industrial development plans.

On other side, head Hashad added that the executive arm would provide technical and technological support for the project besides providing necessary training, marketing, and feasibility studies for projects’ owners.