RetrofitTech Dubai
 
Monday, December 18, 2017
Directory Directory Subscribe
Login
 

Group of Arab companies asks to establish industrial city in northwest Gulf of Suez with $3 billion investments

 
 

Please, enter data

Please, enter data

Daily News Egypt, 10 March 2016

Alliance formed of a group of Arab companies including Saudi, UAE, and Lebanese companies, which decided to submit a request to General Authority for the Suez Canal Economic Zone (SCZone) to develop an area of 5m sqm in the northwest Gulf of Suez and establish a large industrial city on it.

According to representative of the alliance and member of its executive committee Ahmed Sabri Thursday, the volume of the project’s investments in the infrastructure only amounts to approximately $300m, in addition to establishing 120 factories and an integrated business city with investments of $3bn.

A statement by the alliance revealed that negotiations and agreements took place with a number of international companies to join the alliance, after some companies withdrew from it, to establish a huge industrial city including factories operating in fields of building materials, food, cars, in addition to logistic zones for storage.

Sabri said the alliance contracted with the government before to develop this area in the first quarter of 2015. However they were surprised the major development company, MDC affiliated to SCZone, in northwest Gulf of Suez cancelled this contract without consulting with them. It increased the price of a meter by 40% to be EGP 7 per meter, usufruct, without facilities. This is in addition to the tax increase occurred in accordance with amending Law 83.

The final touches of a new preliminary agreement will be put during the meeting that will be held with SCZone but by finding enough guarantees to avoid what happened before.
Daily News Egypt
9 March
 

  COMMENTS
Login to Add Your Comment  (for subscribers) | Subscribe

 

Latest News

MENA hotel investments to exceed US$14 billion in 2018
Hotelier Middle East, 18 December 2017

MEED Projects predicts that more than US$14bn worth of hotel construction contracts will be awarded in 2018.
 
MENA hotel investments to exceed US$14 billion in 2018
Lebanese Agriculture Minister visiting Iraq for agriculture talks
Daily Star, 18 December 2017

Lebanese Agriculture Minister visiting Iraq for agriculture talks
Qatar and Japan cooperate to enhance air quality monitoring
The Peninsula Qatar, 15 December 2017

Qatar and Japan cooperate to enhance air quality monitoring
Iraq Attracts Foreign Investors as Economy Improves
Financial Tribune, 14 December 2017

Iraq Attracts Foreign Investors as Economy Improves
Back to Home Page 1704 --- 0 <><><> 372.....exvideo=0....eximage=0
P 0
BR 11

RetrofitTech Dubai

 
4th Annual Future Landscape & Playspaces Abu Dhabi
29 - January 2018
MOI Innovation Summit
5 - February 2018
Future Traffic Security
8 - February 2018
3rd Annual Marine Data Infrastructure GCC
12 - February 2018
Future Civil Defense
9 - March 2018
 
  View more  

Market Indecies
 
Saudi SE - 2.32%
Dubai FM - 4.53%
Abu Dhabi SE - 3.99%
Kuwait SE - 1.51%
Doha SM - 8.36%
Muscat SM - 6.18%
Casablanca SE Closed
Bahrain SE - 0.98%
Cairo SE Closed
Amman SE - 1.12%
 

RetrofitTech Dubai

Quick Links
  Reports  
  Articles  
  Brochures & Flyers  

Up-coming events
  Food Africa Cairo - 4 December - 6 December 2018  
  Mac Fruit Attraction - 4 December - 6 December 2018  
IFP Group Events Calendar

Magazine sections
  Finance  
  Zoom  
  Growth Markets  
  Regional Overview  
  Editorial  
  Tips and Tricks  
  Spotlight  
  Home Finance  
  Our Meetings
 
  Focus
 
  News
 
  Legal Issues
 

 

               
IFP Corporate
• IFP Emirates
• IFP Lebanon
• IFP Qatar
• IFP Iraq
• REC Saudi Arabia
• IFP China
Lebanon
Beirut Boat
Energy Lebanon
Project Lebanon
Qatar
Heavy Max
Hospitality Qatar
Project Qatar
Qatar Hospital Build
Qatar School Build
Qatar Sports Infrastructure
Qatar StoneTech
Qatar Transport & Logistics
Iraq
Saudi Arabia
Riyadh Motor Show
 
 
  IMC
IFP Group 2017 - © All rights reserved