Egypt offers 17 mega projects to investors

Egypt is offering investment opportunities to Arab and foreign investors in 17 mega projects, with costs varying from $1 million to $650million, the Egyptian Ambassador to the UAE, Mohammed Saad Obaid, told Khaleej Times.

He said the projects serve as great opportunities for privatisation in the country, which has opened its doors to investors, providing them facilities to ensure their success mainly in the fields of petrochemical, industrial chemicals, foodstuff, engineering, agricultural and services.

Three projects in the field of petrochemicals are methanol production, chloride polyvinyl (PVC) and polystyrene production, he said, adding that the project for producing methanol was designed to produce 1.3 million tons of methanol per annum to be used as motor vehicles fuel.

The project would be headquartered in Mubarak Petrochemicals Complex at Damietta seaport, and the $600 million project will be run by the Petrochemicals Holding Company in Cairo, he noted.

The project concerning production of chloride polyvinyl and polystyrene aims at increasing the production capacity of the PVC and building new production lines at the Development Area in Alexandria at an estimated cost of $250 million.

While the project for producing polystyrene is designed to produce 200,000 tons of polystyrene, which is used in plastic industries in Alexandria, at a cost of $150 million, he said.

Stating that there were three industrial chemicals projects, he said these were set to produce sodium hydroxide and chloride to meet the needs of the domestic market and for export to cater to the needs of foreign market.

The project, he said, is located in Burj Al Arab in Alexandria and Sbaika Lake, North Sinai. Affiliated to the General Manufacturing Authority, or GMA, the project will cost $159 million. The second project, which also falls under the management of the authority, is designed to produce paper at a set production capacity of 60,000 tons every year. It is located in Gina Governorate in the South of Egypt, and costs $139 million, while the third project is to produce cement with the aim of achieving a production capacity of 1.4 million tons per annum. The project, an affiliate of the General Manufacturing Authority, will cost $149 million, he noted.

The Media Adviser at the Embassy, Abdel Rahman Abdel Fattah, said the government had hammered out a plan for the setting up of three food projects. Their first, he said, is on grinding and purification of sunflower with a production capacity of 32.000 tons. The project is located near the New Land Reclamation areas, where sunflower plants are cultivated. The project is affiliated to the GMA and will cost $18 million.

Fattah said the second project is for production of medical and aromatic plants with a production capacity of 150 tons per annum. The project is located in four governorates including Al Behaira, Bani Swaif, Eastern and Western Governorates. The project will cost $27 million. However, the third project is designed to produce sugarbeet with a production capacity of 125,000 tons and it is located in the Eastern part of Al Nobariyya in Al Bihaira governorate, costing $11 million.

Abdel Fattah said there are five engineering and agricultural projects ready for investment. These include a project for producing glass for electrical lamp bulbs in Al Ismailiyya at a total cost of $32 million.

The second project is for producing a compound chemical fertilizer with a total production capacity of 500,000 tons per annum. It is located in the Economic Zone, North West, Suez Bay, and will cost $287 million, while the third project is for producing urea containing 46.5 per cent of Azot. It is located in the Economic Zone, North West, Suez Bay, at a cost of $356 million.

Agricultural projects include land reclamation of 39,060 Fedans. The land is displayed for sale and located east of the Suez. The plot of land needed to be reclaimed is linked to Shaikh Zayed Water Canal for Irrigation. The project, an affiliate of the Ministry of Agriculture and Land Reclamation, will cost $106 million.

The second project is reclamation of land spread in a total area of 26,900 Fedans in the North Coastal area. The land, which has its own source of irrigation as it connected to Al Hamam Canal, has been put up for sale at $46 million.

Abdel Sattar Al Sawi, the Commercial Adviser at the embassy, spoke about the service projects, for which investments have been sought. He said the three-mega projects include the operation and marketing of Gina River Port, and the project is located on the River Nile, South Al Tabeen Port and North Nasser man-made lake. The project, which is affiliated to the Ministry of Transport, will cost $7 million.

The second project, he said, links the North of Delta to the South of Nile Valley by operating an express train running at 300kmph. Under the planned project, the train will link Cairo and Alexandria and runs through the Western desert. It is also planed to extend the railway line on which the train will run to Southern Assiout, Sohaj, Qina, Luxuor and Aswan. It will cost $2.2 million, while the third project is to construct Mubarak International Stadium in the Sixth of October Township, South the North Oases highway. The facility will have an intake capacity of 80,000 spectators. It will also include an entertainment area and a four-star hotel.

Investment in Egypt does not only ensure the facilities for production and export but also provide an opportunity for exploring emerging markets. Egypt has signed a number of agreements, which guarantee preferential benefits by the European, US, ME, and African markets, he added.