Egypt’s IDA to launch 2 industrial complexes in Red Sea, Margham next July

Egyptian Industrial Development Authority (IDA) plans to launch two industrial complexes in Red Sea governorate and Alexandria’s Margham 2 area within next July, according to sources.

The works come as part of the IDA’s scheme to establish around 13 industrial complexes for small and medium-sized enterprises this year, at a cost totalling 8 billion Egyptian pounds ($477.3 million), the official sources said on Sunday.

The 13 industrial complexes will be completely launched at the end of April 2020 in 12 governorates nationwide, including Aswan, Luxor, Qena, Assiut, Minya, Sohag, and Beni Suef, they further told Amwal Al Ghad.

“We had sold four complexes, which were built last year, in Sadat, Badr, and Port Said cities,” the sources said.