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Sunday, 14 January 2018

Kabil breaks ground on Polaris SME industrial complex

Trade and Industry Minister Tarek Kabil broke ground yesterday on Polaris Parks’ EGP 250 mn Bosla SMEs industrial complex in 6 October City, according to an emailed statement (pdf). Polaris Parks also signed yesterday a cooperation protocol with the National Bank of Egypt (NBE) to offer subsidized loans to investors in the new complex, Al Borsa reports. Kabil also announced at the inauguration that the Trade and Industry Ministry is planning to tender 5 mn sqm to industrial developers throughout the year, according to Al Borsa. Kabil also inaugurated yesterday three projects in 6 October with a combined investment value of EGP 650 mn, Al Borsa reports. The projects include Al Gioshy Steel’s EGP 500 mn steel factory, a EGP 50 mn smart meters production factory, and a new EGP 100 mn production line for packaging materials at General Print’s factory.

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