IDA grants approvals for 180 projects worth $338mn: Egypt’s industry minister

Egyptian Industrial Development Authority (IDA) granted approvals for 180 industrial projects inside and outside industrial zones during June 2016 with investment cost of three billion Egyptian pounds (US$337.9 million).

Industry Minister Tarek Qabil said that the 180 projects would create more than 9,000 direct job opportunities in nine different industrial sectors notably engineering industries (64 approvals), food industries (49 approvals), chemical industries (29 approvals), and textiles (23 approvals).

According to IDA’s report, the granted approvals are divided upon 23 governorates as Al Sharqia lead the list with 46 projects followed by Giza governorate with 27 projects, the minister clarified.

Qabil clarified that Cairo governorate was given approvals for 17 projects while Gharbia governorate got approvals for 15 projects, then Aswan that got approvals for 10 projects.