New lands to be available for industrial development

Up to 5 million square meters of new lands will be available for industrial investment soon, divided into nine industrial areas, after the Cabinet’s consent is obtained, said Industry and Trade Minister Hatem Saleh.

During his visit to Badr Industrial City on Saturday, Saleh said 1,029 plots of land will be available in the industrial zones in the cities of Sadat, Nubariya, Beni Suef, Kafr al-Dawar, Sohag, New Salheya, North Gulf of Suez, Borg al-Arab, and Assiut.

He added that the ministry is considering allocating 20 percent of this land to small-scale industries rather than the current 10 percent to better meet the needs of small investors.

Saleh said that the allocation of land for industrial activities is the foundation for industrial development plans.

Fewer lands being allocated for industrial purposes in recent months has had a negative impact on development, as well as hindered the attraction of new investments to the local market, the minister said.

Edited translation from MENA

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