IDA to finish establishing 16 new industrial complexes during 2019

Egypt’s Industrial Development Authority is set to finish and start the operations of 16 industrial development complexes for small and medium enterprises during 2019, Magdy Ghazy its Vice Chairman said.

He added that the number of ready and completely implemented industrial complexes since 2017 will reach 20 complexes.

He further told Amwal Al Ghad that these projects include the national project of complexes which is currently being implemented embracing 13 industrial complexes with total cost of 8 billion Egyptian pounds.

In addition, IDA is implementing three other industrial complexes in cooperation with New Urban Communities Authority.

He further noted that the last period has witnessed the completion of 4 complexes in Badr, Sadat, Alexandria and           Port Said.

In a related context, Ghazi explained that the Authority is in constant contact with a committee on reviewing the allocation of industrial lands, which was formed by the Council of Ministers in 2018 to discuss the most advantageous mechanisms for land allocation, which increases the attractiveness of industrial investment.