Egyptian IDA allocates $42m for Al-Robeky Leather Zone

The Industrial Development Authority (IDA) has allocated EGP330 million (US$42.1million) in the budget of fiscal year 2015-16 to speed up works in Al-Robeky industrial zone for leather tanneries, Chairman Ismail Gaber said Tuesday. Al-Robeky zone is 54 km east of Cairo.

He stated that EGP200 million from the dedicated sum are allocated to establish warehouses for the project, adding that one of the largest contracting companies has been charged to finish construction works.

The other 130 million Egyptian pounds are dedicated for industrial waste treatment plant with which the Armed Forces’ Engineering Authority is charged to finish construction works.

Gaber stated that it is set to finish establishing all warehouses of project’s first phase as well as utilizing them in 2016.

The chairman added that the project is one of the strategic projects to which the state is paying a great concern as the Cabinet demanded to finish the project according to the determined schedule.