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Tuesday, 3 January 2023

Elsewedy Electric proposes EGP 20 bn industrial zone west of Cairo

Elsewedy Electric wants to build an industrial park in New 6 October City: Elsewedy Electric is in talks with the government to build a new industrial zone in New 6 October City and will soon look to draw up contracts for the project, according to a cabinet statement. The three-phase project could attract investments worth EGP 20 bn, create 150k jobs, and add EGP 5 bn to the country’s annual GDP once complete, Elsewedy Electric CEO Ahmed El Sewedy said in the statement, without giving a potential timeline for its construction.

The details: The 5-mn-square-meter industrial zone would be among the country’s largest, housing more than 400 factories, 100 logistics and commercial facilities, a park, and a technical training academy, according to Elsewedy. It would be located near the 6 October dry port, which began trial operations in November, and linked by railway to Alexandria port. The company set up to build and operate the 6 October dry port is 70% owned by Elsewedy Electric.

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