IDA allocates 3.5 mln metre square for 29 projects worth 59 mln pounds

Industrial Development Authority has finished allocating 22 projects with total area of 3.5 million metre square and total investments worth 59 billion Egyptian pounds ($3 billion), Chairman of the IDA Ahmed Abdel Razek said.

He added that IDA is offering number of facilities to improve the conditions of the industrial investors and attract new investor.

Abdel Razek further noted that IDA is taking further procedures to allocate 34 projects with total area of 4 million metre square and total investments worth 13 billion Egyptian pound.

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