Cairo – October 19, 2023: Egyptian Minister of Trade and Industry Ahmed Samir revealed that industrial developer Saudi Bashayer Construction Co. is considering a potential land project in Egypt with an initial investment of around LE 1 billion, explained an official statement from the Ministry of Trade and Industry.
Samir met with Saudi Bashayer Construction’s General Manager Mohamed Al-Saqili earlier today to review a recent study conducted by the company on the Egyptian market, as well as a number of industrial zones for the potential location of the project, including the industrial zone in Sadat.
The trade minister pointed out that the Saudi Arabian company has a German investment partner with “extensive experience and a global business history in energy, recycling, and circular economy” that is looking to invest in the country.
Samir highlighted the ministry’s role as a coordinator and organizer between industrial developers and investors to facilitate the establishment of industrial projects and attracting local and foreign investments.
Saudi Bashayer’s Managing Director explained that the company is seeking to invest in Egypt to benefit from the various investment advantages currently offered by the state, and aims to develop industrial land to attract major German companies and factories in the area, particularly those focused on sustainable energy, recycling and waste treatment.
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