Mega-project the heart of desert , 250,000 job opportunities, housing 2.5 million people
Egypt, Economics, 8/16/1999

In the heart of the desert, an ambitious project is blooming to generate more than 250,000 job opportunities, housing 2.5 million people and building investments that worth a total of LE 150 billion.

Under the title of the Gulf of Suez, a 233 km2 economic zone, 120 km away from Cairo, the private sector has its first opportunity to markedly contribute to a free industrial park of which products will be orientated to foreign markets to provide a shot in the arm for Egyptian exports. Much work is afoot under the scorching sun of the summer in preparation for President Hosni Mubarak's tour to the major plan.

"The project has been divided into northern and southern sections. Private enterprises have been tasked with the development and building of infrastructure services in the various sectors of each sections," said Zuheiri Hassab el-Nabi, chief of the Technical Committee of the private economic zone in northwestern of the Gulf of Suez. He remarked that a Chinese company contributes to the major scheme, an official statement said.

On the state contribution to the ongoing work in the Gulf of Suez project, Zuheiri said in an interview with Al-Akhbar newspaper, that the state bodies operate on two levels:
The first factor provided by the state is attracting foreign investment needed to promote the economic zone. The aim is to create an investment-friendly atmosphere. Elaborating, Zuheiri highlighted the investment guarantees and incentive procedures, along with the tax breaks and other moves aimed at facilitating the flow of capital.

"The second factor involves the building of infrastructure under high quality specifications. Power supply classified under this factor," said Zuheiri.
   
He singled out the cement factory, set up on an area of 122,000 square metres, as the maiden project already in operation in the Gulf of Suez economic zone, located 44 km from the port city of Suez. The aim is to effectively contribute to the development and construction plans under way in the zone.
   
Magdy el-Deeb, the Exceutive of the cement factory The plant is run by a team of highly skilled engineers, technicians and workers. "The plant, with a daily capacity of 1,000 cubic metres of cement, has one of the highest cement mixers in Egypt," he said.
   
A ceramics factory in the southern section of the large project is set up next to the cement plant. "Production at the ceramics factory is due within the coming few months. The output of the factory is estimated at 10 million square meters of ceramic items," he said.
   
The products are mainly designed to for export, with particular emphasis on in Europe and southeast Asia.
   
Egyptians have read much about the industrial and economic zones set up in various parts of the world. The belief was that Egypt had not been well qualified to have its own zones, but what many once regarded as a dream is now becoming a reality.

Previous Stories:
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