Cairo Chamber may establish $65.5 million Building Materials Market

Egypt’s Cairo Chamber of Commerce is studying the construction of a market for building materials to generate investments estimated at 500 million Egyptian pounds (US$65.5 million).

Ahmed Al Zainy – Head of Building Materials Division – told Amwal Al Ghad on Thursday that the market would be built over 200 feddans, to include all building materials; cement, steel, carpentry. In addition, there will be a market exchange to trade in each commodity in the country, he noted.

Moreover, Al Zainy pointed out that division’s Board of directors had approved the inception of the building materials market, stating that it is set to submit a request to the country’s Industrial Development Authority (IDA) in days to provide project’s land with the usufruct system.