Al Ahly Capital, Suez Industrial Development partner to develop integrated industrial zone in Egypt

CAIRO - 23 May 2022: Al-Ahly Capital Holding Company, the investment arm of the National Bank of Egypt, signed a partnership and development agreement with Suez Industrial Development Company, a subsidiary of Orascom Construction, with the aim of developing an integrated industrial zone west of Cairo on an area of ​​2.2 million square meters in Abu Rawash area in Giza. 

 

Suez Industrial Development Company has a 25 percent interest in the owner company (Al-Ahly Industrial Development Company - one of Al-Ahly Capital Holding companies), which assumes the role of the main developer of the project.

 

Hisham Okasha, head of the National Bank of Egypt, said in a statement, that the project to develop this industrial zone comes within the framework of the strategy of Al-Ahly Capital and the National Bank of Egypt Group to contribute directly to the localization of the industry by providing more industrial lands that are adequately equipped, in addition to providing all industrial and logistical services in it. 

 

“This region enjoys a strategic location in the middle of new industrial and agricultural areas and is considered one of the industrial areas that is characterized by its proximity to the vital road and transportation network that connects many axes, in addition to that it will constitute a leading center for a wide range of sectors, including logistics, light industries and small and medium enterprises,” he clarified.

 

Okasha pointed out that the presence of Al-Ahly Industrial Development Company in a vital area greatly serves industrial activities, especially in light of the private developer system that facilitates the availability of infrastructure facilities and investment services, especially for small and medium industries, allowing them to focus on the production process and provide new job opportunities, which will contribute In revitalizing these projects, their speed of entry into the market and their contribution to the growth of local production, which will reflect positively on the national economy.