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Monday, 14 September 2020

GAFI approves new projects in IDG’s e2 industrial park in Alamein

INVESTMENT WATCH- GAFI approves new projects in IDG’s e2 industrial park in Alamein worth EGP 600 mn: The General Authority for Investment (GAFI) has greenlit 22 new projects worth a combined EGP 600 mn that will be set up in Industrial Development Group’s (IDG) e2 complex in Alamein, according to the local press. No further details were provided on the approved projects. IDG, which was set up by construction outfit Samcrete in 2017 to develop industrial parks, has already allocated land in e2 to nearly 140 investors — a third of whom are foreign. IDG is also the developer of the East Port Said Industrial Zone, on which it broke ground a year ago, and another zone in Sixth of October.

Background: The 2.7 sqkm e2 investment zone is branded as Egypt’s first eco-sustainable park. The park pitches tenants on the benefits of “multiple trade agreements, including COMESA, GAFTA, Egyptian-European partnership, and others.”

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