The General Authority for Investment and Free Zones (GAFI) has approved the first four projects in the Al Ahly Industrial Development investment zone in Abu Rawash. GAFI CEO Mohamed Awad chaired a meeting to review progress on the project's master plan and assess the zone's success in attracting new projects. The approved projects include a food production facility by Egyptian Canning Company "Best", a storage and logistics solutions project by Al Ahlia Trading Company "Nacita", a food manufacturing and packaging project by Breadfast, and a warehousing operations management project by Flextock Egypt.
The Al Ahly Industrial Development Company has completed around 70% of the infrastructure and site preparation works for the project's first phase. Managing Director Sameh Gabra praised GAFI's cooperation with the company's management and the efficiency of the investment zones system. This system enables the company to obtain all approvals through a single entity: the investment zone's Board of Directors, which includes all authorities concerned with investment matters.
The project plans to establish 118 factories on the zone's 1.3 million square meters of built-up area, out of a total investment zone area of 2.1 million square meters. The remaining area will be allocated to roads, services, and green spaces. The project's total investment cost is EGP 14 billion, aiming to create 28,000 jobs across industry, training centers, and logistics services.
The approved projects are expected to contribute significantly to Egypt's economic development plans. Al Ahly Industrial Development Company is prepared to contribute to development plans for the areas surrounding the investment zone as part of its social responsibility. The company's efforts align with the state's goals to boost economic growth and create new job opportunities.
The General Authority for Investment and Free Zones (GAFI) plays a crucial role in promoting investment in Egypt. The authority's efforts to streamline the investment process and provide a favorable business environment have attracted several investors to the country. The Al Ahly Industrial Development investment zone is one of the key projects under GAFI's supervision.
The project's progress and success are closely monitored by GAFI and Al Ahly Industrial Development Company. The investment zone's Board of Directors, chaired by Mohamed Awad, ensures that all projects align with the state's economic development plans and regulations. The board's oversight guarantees a smooth implementation of the project's master plan.
The approval of the first four projects in the Al Ahly Industrial Development investment zone marks a significant milestone in Egypt's investment landscape. With a total investment cost of EGP 14 billion and an expected 28,000 jobs created, the project is poised to make a substantial impact on the country's economy.
Key points
- The project aims to create 28,000 jobs and EGP 14bn investment.
- The Al Ahly Industrial Development Company has completed around 70% of the infrastructure and site preparation works for the project's first phase.
- The project plans to establish 118 factories on the zone's 1.3 million square meters of built-up area.
