Industrial Investors Eyes Launch of EGP1bn Firm in Suez Canal Project

Big 5

Egypt’s Industrial Investors and 6 October Investors Association are aiming launching holding company with EGP1billion capital in order to implement several investment projects in Suez Canal Development Axis project.

Captain of Industrial Investors Mohamed Genaidy revealed that the numbers of investors in the company’s shareholders up to 100 investors in coordination with October Investors Association, pointing out that it will be holding a board meeting later this month to begin the Executive steps within one month.

The measures of implementing the company will take around 3 months, stressing that the company will contribute in Desert land reclamation project that  announced by President Abdel Fattah Al-Sisi recently.

In a statements, Genaidy explained that Suez Canal project is a real breakthrough for the national industry in light of the national State’s keenness to rely on factories and national companies significantly.