Egyptian trade and industry ministry is currently studying establishing developed industrial zone in Borg El Arab, Alexandria within the upcoming period, Minister Tarek Qabil asserted Thursday.

The new zone will be established on the space of 5.8 million m² and expected to attract investments estimated at 8.6 billion Egyptian pounds (US$1.1 billion).

It is set to encompass a number of industries besides providing around 58,000 new job opportunities, the minister stated.

He added that 3.7million m² will be developed by the Industrial Developer System while 2.1 million m2 will be a logistics services area that will be developed by New Urban Communities Authority (NUCA).

The minister clarified that the Industrial Development Authority (IDA) is currently making the technical studies that are necessary to complete the zone within the coming period.

Trade ministry is providing the whole support for different industrial sectors to boost their competitiveness and help them to open more exporting markets .