Singaporean firm to discuss building Fayoum industrial zone in weeks

A delegation of Singapore-based firm is scheduled to visit Egypt within the coming two weeks to discuss steps of developing 33 million square metres in Fayoum governorate.

Advisor to Minister of Industry and Trade, Yasser El Maghraby told Amwal Al Ghad Wednesday that the firm plans to establish large industrial zone in the governorate with total cost of 15 billion pounds.

The official added that project’s land plot would be issued through the usufruct system over 30 years.

The Egyptian ministry is set to sign the Memorandum of Understanding (MoU) with the Singaporean firm and discuss executive and technical steps of establishing the zone soon, El Maghraby pointed out.

Moreover, the new project is set to be the second largest industrial zone in Egypt following 10th of Ramadan City, the advisor stated.