Egypt Govt Offers Industrial Land Free Of Charge for Speedy Development
Egypt’s Prime Minister Mostafa Madbouly has announced that the government is currently preparing for establishing an industrial city project on an area of 5 million sqm in the new 6th of October City. The project includes industrial, logistical, commercial, administrative, and service activities. It will be located near the 6th of October dry port and will be directly linked to Alexandria Port via railways. Madbouly said the government received a request from Elsewedy Electric to establish a new industrial zone in New 6th of October City, which is planned to be developed through an industrial developer system. Madbouly pointed out that the government welcomes and supports the industrial sector, commenting, “All that matters to us in this context is to accelerate the process of developing proposed industrial zone, with regard to the speed of connecting utilities, building and operating factories, especially since we have previous experience with some industrial developers used to take many years to develop industrial lands, this would hinder development in the region in general.” He noted that the government would not earn a single pound from the price of these industrial lands, but what the government cares about is the development and the speed of operating factories. With regard to the process of allocating the lands required for the establishment of the industrial city, the Minister of Housing stated that the required lands will be allocated in two phases, and in the event that seriousness is proven in the first phase, necessary lands for the development of the second phase will be obtained. The Minister of Industry explained that coordination was made with the Minister of Housing in this regard, and it was agreed on governance mechanisms for industrial zones that industrial developers will acquire and manage, so as not to add increasing burdens on manufacturers.
Tags : Egypt Prime Minister Mostafa Madbouly government industrial city project logistical commercial administrative