Mohamed Awad, CEO of the General Authority for Investment and Free Zones (GAFI), chaired a meeting of the Board of Directors of Al Ahly Industrial Development Company’s investment zone in Abu Rawash to review progress on implementing the project’s master plan and assess the zone management’s success in attracting new projects. Awad announced that the zone’s Board of Directors had approved the establishment of the first four projects in the zone. These include a project by Egyptian Canning Company “Best” for the production, preservation, and packaging of food products; a project by Al Ahlia Trading Company for Agricultural, Chemical and Industrial Activities “Nacita” for storage and logistics solutions; a project by Breadfast for the manufacturing, packaging, and handling of food products; and a project by Flextock Egypt for the management of warehousing operations. Sameh Gabra, Managing Director of Al Ahly Industrial Development Company, said the company has completed around 70% of the infrastructure and site preparation works for the project’s first phase. He praised GAFI’s cooperation with the company’s management and the efficiency of the investment zones system, which 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. Gabra said the company is prepared to contribute to development plans for the areas surrounding the investment zone as part of its social responsibility and its contribution to the state’s economic development plans. The project plans to establish 118 factories on the zone’s 1.3 million square metres of built-up area, out of a total investment zone area of 2.1 million square metres. The remaining area will be allocated to roads, services, and green spaces. The project’s total investment cost is EGP 14bn. Projects within the investment zone are expected to create 28,000 jobs across industry, training centres, and logistics services.The post GAFI approves first four projects in Al Ahly Industrial Development investment zone first appeared on Dailynewsegypt.
