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Five new projects including two for oil products, propylene
Egypt, Economics, 8/29/2002
"The General Authority for Investment and Free Zones (GAFI) yesterday gave its approval for five new investment ventures under the free trade zone and other private system," said Mohammed El-Ghamrawi chairman of the authority.
ΚΚΚ The five ventures include two industrial projects worth $ 417 million, which will create 690 jobs in the districts of the northwest of Gulf of Suez and Ameriya, West Alexandria. El Ghamrawi said that these two industrial plants will export at least 50 per cent their products.
ΚΚΚ The first project will produce propylene and the second will produce some oil products.
ΚΚΚ The Chairman of the Authority added that the other three projects would be for ready-made clothes, leather and oil products, providing up to 130 new jobs.
ΚΚΚ He also ordered heads of free trade zones to prepare maps of the new industrial export zones.
Previous Stories:
Egypt will transport natural gas from Aqaba to Jordanian cities
(8/24/2002)
355 billion in unpaid debts; program for settling loans of faltering clients
(8/24/2002)
Petrochemicals industry body set-up
(5/12/2001)
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