Al Wadi Al Jadid logistic area for Palm initiative; costs LE2.5B, provides 15K jobs

CAIRO – 19 June 2019: Egypt’s Ministry Of Supply and Internal Trading has signed an agreement with Al Wadi Al Jadid Governorate to develop a 100 acres-logistic area with an estimated cost of LE2.5 Billion.

According to the ministry, the new area will help provide 15,000 new jobs, along with supporting and enhancing the trade, industrial and service activities.

In the new logistic area,a number of factories and commercial complexes are expected to be established, in addition to an international stock exchange for dates and a large number of date refrigerators as well as commercial and commodity stores.

Another 200 acres all over the governorate will be allocated for President Abdel Fatah al-Sisi'sinitiative for planting palms.

According to Al Wadi Al Jadid Governor Mohamed al-Zamalot,a number of acres were already handed over to investors and businessmen to start planting the palms.He noted that the governorate supports investors to ease their work.

In December 2018, President Sisi announced that Egypt is working on the biggest date plantation that will include around 2,500 million palm trees to produce top quality dates.
Sisi’s remarks came on the sidelines of the inauguration of the National Greenhouses Project in the 10th of Ramadan city.

Presidential spokesperson Bassam Rady clarified that the national project to build 100,000 greenhouses will allow off-season crops production.Furthermore, the project will provide many job opportunities, enhance the quality of the exported products, and increase food production.

According to former Minister of Industry and Foreign Trade TarekKabil, Egypt is the world’s largest date producer, capturing 18 percent of the global date production and 23 percent of the Arab date production.