Back to the complete issue
Wednesday, 20 April 2016

Ayaady for Investment establishes industrial development company with EGP 500 mn capital

Ayaady for Investment has established Ayaady for Investment and Industrial Development with an issued capital of EGP 500 mn, said Chairman Osama Saleh. The company will receive technical and marketing assistance from the Federation of Egyptian Industries (FEI). A capital increase of up to EGP 5 bn will happen gradually, he added. The new company is studying potential projects including building minor industrial complexes in a thousand villages in cooperation with the FEI, the furniture city project in Damietta, as well as a project to build six specialized industrial zones in cooperation with the New Urban Communities Authority and the Industrial Development Authority in Tenth Ramadan, El Sadat City, Borg El Arab, New Minya, New Assiut, and New Tiba, he added. (Read in Arabic)

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.