Five new projects including two for oil products, propylene

"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.

ÊÊÊ 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.

ÊÊÊ The first project will produce propylene and the second will produce some oil products.

ÊÊÊ 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.

ÊÊÊ He also ordered heads of free trade zones to prepare maps of the new industrial export zones.