Kafr El-Dawwar to Receive EGP 960 mln Investments

The industrial zone in Kafr Al-Dawar gets ready for investments with EGP 960 million costs, after announcing Dr. Mohamed Morsi as Egypt’s president as well as the expected stability for the country’s security and political states.

Mahmoud Al-Sukkari, secretary general of Bahira Businessmen & Investor Association (BBIA), told “Amwal Al Ghad” that new investments are to be injected in 120 factories in the industrial zone in Kafr el-Dawwar. They target various productive sectors, the priority will be to the textile sector; also a factor for producing medical cotton with EGP 17 million costs.

He added that the factories are awaiting either the administrative approval of the industrial zone apparatus subordinated to the urban communities authority, or finishing the procedures of the banks’ loans to save capital for the new investing project.

The secretary general said the association will write a memorandum about the new investments to be showed to the government after inaugurating the new president; paving the way for getting more governmental subsidy to facilitate the administrative procedures and assigning lands in the zone.