Dr. Mahmoud El Garf, Head of the Industrial Development Authority (IDA) revealed that his Authority is planning to allure EGP4.158 billion investments through establishing new industrial zone in Ras Gharib City for manufacturing marbles.
It is schedule to start facilitating the city by the coming fiscal year, expecting that the total costs of the facilities’ operations reach up EGP387 million, El Garf explained.
The region which will be established will be on the road to Sheikh Fadel and Ras Gharib, stressing that the region is very important in reducing the marbles which have been used that reached 30% and where will be transferred to Industrial Area Shaq El Thoban, Maadi in the form of solid blocks.
Moreover, He illustrated that it will address the Cabinet in order to obtain the approval regarding Industrial area before starting the facilities’ operations.
El Garf was previously stated that IDA seeks establishing new industrial region in Shalateen and to be allocated to food industries during the upcoming year.