IDA to launch 60 million sqm of land plots for industry by 2022

Industrial Development Authority is set to launch 60 million square metre  of industrial land plots by 2022, Chairman of the IDA Ahmed Abdel Razek said.

In a conference organized by the American Chamber of Commerce, Abdel Razek added that  IDA has finished developing 25 million square meters from the targeted plan.

“Around eight million square meters were launched for investors in Sadat and 10th of Ramadan cities,” Abdel Razek added.

In June, the IDA delivered contracts of 72 land plots to be used in the sectors of food industries, chemicals, engineering, textile and spinning, pharmaceuticals, mining and building materials.

Supporting development, the IDA gives priority to labor-intensive, local production, small and medium enterprises, new innovations, export, electricity, energy and renewable energy projects.