Skip to Content

Sunday, August 25th, 2019

Singaporean corporation to build an industrial city in Fayoum

Closed
by September 20, 2017 General

Singaporean corporation to build an industrial city in Fayoum

Wednesday 20 September 2017 11:10 AM

General Authority for Industrial Development

General Authority for Industrial Development


By Ahmed Al-Lahouny:
The size of investments allocated by the Singapore Holding Company (SECC) to establish an integrated industrial city in Fayoum governorate on an area of 33 million sq m. are estimated at EGP 18bn, according to a senior official at Egypt’s ministry of trade and industry.
Prime Minister Sherif Ismail and minister of trade and industry Tareq Qabil witnessed yesterday the signature of a memorandum of understanding between Industrial Development Authority (IDA) and Singapore Holding Company to establish an industrial city in Kom Oshim district in Fayoum.
According to a statement by the minister of trade and industry, under the agreement between IDA and SECC, a joint venture company shall be set up to implement the new project, engineering works, construction and maintenance, as well as to manage it.
It is planned to complete relevant studies in 7 months in preparation for commencing implementation.
For his part, the chairman of SECC said that the company will provide financings for the project through several foreign banking institutions as well as cooperation with the authority in the preparation of detailed studies on the establishment of the new project.

Previous
Next