Investments beef up in Borg el-Arab

Mohamed Ibrahim Soliman, Egypt's Minister of Housing said yesterday at a meeting with local investors that 394 factories, capitalized at LE1037 million and with annual production of LE1.14 billion, have been established in the new Borg el-Arab City.

He added that the factories have created 20,000 jobs for young people and that 148 factories under construction, capitalized at LE306 million, will create a further 5,000 job opportunities.

The minister said that LE165 million has been spent on housing in the city, which comprises 8617 finished writs with another 560 under construction.

LE70 million has been invested in the services sector to build 38 buildings for education, health, administration and security services.

Borg el-Arab City is located 60 kilometers southwest of Alexandria on an area of 198.5 square km.