LE 728M in funds for Beni Suef’s industrial zone: Minister

CAIRO – 21 January 2018: Minister of Industry and Foreign Trade, Tarek Kabil, announced that Beni Suef Governorate witnessed a huge spurt in Industry during the last period, adding that the government supported its industrial zone with LE 723 million.

Kabil added during the opening of the developmental projects on Sunday that the industrial percentage in Upper Egypt is lower than the target by 37 percent and that the government focuses on huge industries.

“The government inaugurated 256 factories during the last two years in Upper Egypt; and four industrial zones will be inaugurated in Qena and Sohag during the upcoming period,” Kabil noted.

Kabil added that the biggest challenge in Upper Egypt is the industrial zones’ infrastructure, referring that the government works on attracting youths, local and foreign investors as well as big industries to these governorates.

“Around 700,000 meters have been allocated for medium industries in New Beni Suef and New Assuit cities,” Kabil announced.

Kabil added that the government upgraded Upper Egypt’s training centers at a cost of LE 58 million and that the production was increased by 50 - 100 percent in some governorates.

The minister said that governmental plans target building 10 industrial zones by the end of 2018.

President Abdel Fatah al-Sisi inaugurated on Sunday a series of investment projects, including new expansions to Samsung's factory, which produces devices relying on made-in-Egypt components at the rate of 80 percent; the cement and granite complex, located in the industrial zone 31- 2 near the east desert road of Cairo-Assiut; and the second phase of Beni Suef General Hospital, which includes 48 clinics as well as special clinics to treat Hepatitis C.