Matrouh Governor signs 3 investment contracts worth $ 3.3 bln

Matruh Governor Alaa Abu Zaid signed on Thursday three investment contracts with American- Saudi and Emirati investments witnessed by the Minister of Investment, Sahar Nasr, and the Minister of Local Development Abu baker Al Gendy.

The first contract was signed with Entertainment World Company in the Middle East and North Africa. The company is in charge of setting up an entertainment city in al Alameen in the style of “Disneyland” with an American- Saudi investment worth $ 3.3 billion, on an area of 5080 feddans.

Abu Zaid signed the other two contracts with the Emirati company Oroba to build a touristic hotel in Mersa Matrouh city on a land of 172 feddan, with an investment of  1.2 billion Egyptian pounds. The other contract is to operate dates plant with usufruct right of 15 years worth 3.2 million Egyptian pounds.

“The entertainment city will include an open garden, water games, medical and sport cities and hotels,” Matrouh Governor Alaa Abu Zaid said.

Minister Sahar Nasr said that the entertainment project is considered to be the biggest Egyptian project after the approval of the Investment Law and its executive list.

Nasr added that the ministry supports Egyptian investors, besides celebrating the existence of American, Saudi and Emirati investments in Egypt, to offer job opportunities and support citizens.