Cairo – Mubasher: Egypt’s trade minister Tarek Kabil has inaugurated a complex for small businesses in Suez Industrial Development Company (SIDC) in Ain Sokhna with total investments of EGP 800 million.
The new industrial complex spanning 35,000 metres has 47 factories, and will create 5,000 jobs, the Ministry of Trade and Industry revealed in a statement.
The initial phase of the project includes 17 factories in which actual operation has started, Kabil said.
The ministry has planned to invest EGP 70 billion in SIDC through building 55 factories over a nine million metre area, the minister noted.
On 18 October, Mohab Mamish, chairman of the Suez Canal Authority (SCA), said that the Egyptian president Abdel Fattah El-Sisi will open 20 factories in Ain Sokhna in February 2018.
In September, minister of transport Hisham Arafat had discussed an offer to implement Ain Sokhna-Al Alamein railway line by a consortium of China's AVIC international and China Railway Group Limited (CREC).
