Fayoum’s request for LE280 to fund projects is being considered

CAIRO – 23 September 2017: The Ministry of Planning is considering the request of Fayoum’s governor for some LE280 million to fund some projects in the governorate, Planning Minister Hala el-Said said on the sidelines of her visit to Fayoum on Saturday.

She said that the ministry will consider the possibility of providing the funds during next year. She added that Fayoum is one of the governorates that is not taking its fair share of development projects.

The Fayoum governor has requested some LE311 million to finance various projects, LE22 million of them for water projects and LE30 million for the construction of a ring road, among others.

On Thursday, Minister of Industry and Foreign Trade Tarek Kabil said that the Singapore Holding Company will invest $1 billion in its industrial complex project in Fayoum.
Established over 33 million square meters, the city comprises a mega technological valley as well as residential units.

Kabil said that a joint company will be established between the IDA and the Singaporean company to manage construction stages of the new project, adding that the IDA will provide all kinds of support, information and data related to the project.