20 January 2022 08:10 AM

Egypt, Saudi Arabia sign contract on building industrial zone in Sadat city

Saturday، 24 March 2018 - 01:35 PM

Chairman of the Industrial Development Authority (IDA) Ahmed Abdel Razek and Chief Operating Officer of the Saudi Construction Products Holding Company (CPC) Riad Kiwan on Friday 23/03/2018 signed a contract on the establishment of a new industrial zone in Sadat city on an area of more 1 million square meters.

This comes within the framework of the Trade Ministry’s strategy to offer plots of land on an area of 60 million square meters.

In a statement released by the IDA, Abdel Razek said the authority will contribute to about EGP 900 million in the project, adding that the new industrial zone is expected to lure investments worth EGP 2 billion and provide some 8,000 job opportunities.

The new zone is the third one to be established by the industrial developer system in Sadat city, he noted.

MENA

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