Establishing a governmental Egyptian company for technological development

The Egyptian Ministry of Communications and Technology started taking the executive steps to establish a holding company for technological development with a capital of 30 million LE.

Minister of Communications Ahmed Nazeef told ArabicNews.com that the Egyptian government specified 3.5 billion LE for the technological development program which includes manufacturing satellite and computer devices as well as establishing the Delta valley for technology in cooperation with the Ministry of Scientific Research.

He said the new company will tackle investments in companies for developing technological knowledge and industrial engineering companies, as well as companies for development and management.