IDA Plans Egypt’s ‘Golden Triangle’ Project Completion within 3 Years

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The Egyptian Industrial Development Authority (IDA) intends to carry out the ‘Golden Triangle’ project within three years, chairman Ismail Gaber said.

In an interview with Amwal Al Ghad, Gaber referred to a potential delay in submitting the financing and technical offers from global think tanks to the IDA until mid-November.  Global think tanks, planning to submit their offers, need first to study the recent amendments proposed by the African Development Bank (AfDB).

IDA is seeking to receive financial and technical offers from global think tanks in order to select one of them to prepare the ‘Golden Triangle’ project blueprint. AfDB is in charge of proving the finance required to prepare the project blueprint.

The golden triangle is a project done to exploit resources, especially metal, in the area between Safaga, Qusayr, and Qena.