Some L.E 5 billion investments in new industrial zone

Cairo Governor Abdel Rehim Shehata said that the Investment Bank has to speed up procedures to allocate areas of land at Shaq al-Thubaan industrial zone to begin building factories there.

The total area of land for investment amounts to 50 feddans in the first stage and 29 feddans for the second.

The industrial zone will comprise 736 factories and 300 workshops.

The investments in the zone will provide 20,000 job opportunities.

Meantime, Prime Minister Atef Ebeid attended yesterday the signing ceremony of a loan contract between the Social Fund for Development (SFD) and the Local Development Ministry.

Loans will hit L.E. 107 million to be divided as L.E. 4 million for each governorate.