The chairman of Ayadi Company for Development and Investment said on Tuesday that in the Damietta Furniture City (DFC) have reached EGP 4 billion.
The requirements and conditions for workshops will soon be issued, Osama Saleh added on the sidelines of the Capital Market and Economic Reform Financing Conference.
We hope to begin operations in the city by the end of the first quarter of next year, he noted.
A subsidiary of Ayadi considers developing a project in El Qantara that spans across 200 feddans in its first stage.
The company began studying the project with the Suez Canal Economic Zone to obtain required licenses.
Saleh expects to reach an agreement with the Suez Canal Authority before the end of H1-17.