Cairo – Mubasher: Metoubas Industrial Zone in Kafr El Sheikh will be offered for investments by the end of 2017, the Egyptian minister of investment and international cooperation Sahar Nasr said on Wednesday.
A free zone will be established alongside the investment zone in the governorate, Nasr said.
The total size of the investment zone is 10,000 acres, with a length of 25 kilometres and a cost of EGP 200 billion.
The zone will offer 250,000 employment opportunities, and will support the national economy by EGP 50 billion annually, Nasr added.
She stated that this project will be a significant civilisation leap for Kafr El Sheikh in the next phase, as it includes various activities.
The project will be set up next to the Borollos power plant operated by Siemens, which is one of the biggest power plants in the Middle East, she highlighted, affirming that its infrastructure will attract investors to invest in Metoubas Industrial Zone.
She noted that this project will limit illegal immigration of youth by offering them employment opportunities.
