Egypt’s Industrial Development Authority (IDA) has issued 91 final approvals for the implementation of new industrial projects with an investment cost amounting to approximately EGP1.857 billion ($237 million), said a senior ministry official.
The projects included nine in the industrial sector, 27 in the chemical industries sector, 25 in the food industries sector, and 25 in the engineering industries sector, Mounir Fakhry Abdel Nour, Minister of Industry and Foreign Trade, was quoted as saying in a Daily News Egypt report.
He said the projects implemented within and outside industrial zones have provided 5,765 jobs. Additionally, six projects were approved in the textile sector, four in the mining sector, two in the mineral industry sector and only one in the leather sector.
Abdel Nour said that the final approvals were distributed over various governorates; Sharqeya came first with 25 projects, followed by Giza with 13 projects, Menoufiya and Beni Suef with eight projects each, and Qalyubiyah and Assiut with seven projects each. He noted that there are four projects that were approved in Cairo, four projects in Gharbiya, three projects in each of the governorates of Sohag, Minya and Beheira, two projects in Suez, and one project in the governorates of Alexandria, Port Said, Fayoum and Kafr al-Sheikh.
Sixty-one investors have received approvals on expanding their industrial companies within and outside the industrial zones with investment of about EGP9.692 billion ($1.2 billion), including the food and textile, chemical, engineering, metal and mining sectors, he said. In addition, 63 projects took priority and conditional approvals, including 52 priority projects that provide 4,819 jobs, as well as 11 conditional projects that provide 1,935 jobs.
The projects were distributed throughout 14 governorates: Cairo, Giza, Sharqeya, Qalyubiyah, Daqahliyah, Sohag, Qena, Minya, Kafr al-Sheikh, Menoufiya, Beheira, Assiut, Beni Suef and Ismailia, it added.
