El-Kasr Village at the New Valley Governorate – CC via Wikimedia Commons/Abdallaadeazez
CAIRO – 21 October 2017: The New Valley Governor Mohamed el-Zamalout approved on Saturday the establishing of an industrial zone on a space of 100 feddans (one feddan = 1,025 acres) in the area between the Farafra and Bahariya oasis.
The lands within the zone will be given to beneficiaries for a symbolic fee, but they will have to pay for the establishment of the needed facilities.
Meanwhile, the Western Egypt Development project is being executed in Matrouh Governorate and was launched by President Abdel Fatah al-Sisi in July.
The project’s plan includes an investment zone at Gergoub area, a commercial port, passengers quay, economic and tourist centers, urban agglomerations, logistics center, an industrial zone and a big fisheries complex.
The project will take place over 250,000 feddans, with 50 kilometers on the Mediterranean coast into Matrouh Governorate, costing $10 billion.
It will be executed on three phases and completed after 10 years. The first phase will be finished within two years with a cost of $2 billion.