Industry minister opens $33mn-factories in Egypt’s 6th of October city

Egyptian industry minister Tarek Qabil inaugurated Monday three new factories in CBC Egypt for Industrial Development zone at 6th of October city with investments estimated at 300 million Egyptian pounds (US$33.7 million).

The new factories included an aluminum extrusion factory with investments of 160 million pounds besides a home appliances factory with investments worth 130 million pounds. Additionally, the new factories encompassed a factory for medical supplies that has been established  with investments of 12 million pounds and set to create 120 direct job opportunities.

Miniter Qabil also inaugurated a complex for Small and Medium-sized Enterprises (SMEs) that encompasses seven factories operating in engineering industries, chemicals, printing, plastic, packing, packaging, and electric appliances fields.

The total investments of the seven factories are estimated at around 91 million pounds and set to provide 1,900 job opportunities.

Qabil added that expanding in building industrial complexes is an important axe at ministry’s strategy to upgrade industrial sector within the coming period besides developing industrial zones to create more job opportunities.