Egyptian Prime Minister Mustafa Madbouly on Tuesday said that the government had received a request from Elsewedy Electric to establish a new industrial zone in the New October City.
He added that the government consented to the project and welcomed the private sector’s plans to accelerate the development process in the industrial areas.
“All we care about in this context is to speed up the process of developing the proposed industrial zone, with regard to quickly connecting facilities, and building and operating factories,” Madbouly said during a meeting on Monday.
For his part, Minister of Housing Assem Al-Gazzar pointed to the possibility of preparing a specific timetable for the development process of the region, explaining that the required lands will be allocated in two stages.
“The largest number of housing units, especially for low-income people, is being built in the different cities of October. Therefore, such a project is very important to provide job opportunities,” the minister remarked.
The meeting was also attended by Minister of Trade and Industry Ahmed Samir and the CEO of Elsewedy Electric, Ahmed Elsewedy, in addition to other figures.
Elsewedy noted that the project, Industria October, was planned to accommodate industrial, logistics, commercial, administrative, and services activities.
He revealed that the project was expected to add around EGP5 billion annually to Egypt’s GDP and create more than 150,000 jobs in different industries, stating that it would include developing over 400 factories and around 100 logistics and commercial facilities.
“Our main goal is development and we are working at a fast pace to connect required utilities and set necessary controls,” Elsewedy emphasized.
