Gov’t is to offer new lands in an investment zone in Kafr El-Sheikh governorate before the end of this year, Invest-Gate reports.

Land plots of the 10,000-feddan investment zone at Mutubas in Kafr El-Sheikh along 25 kilometers of the North West Coast will be offered for investors before the end of this year, Minister of Investment and International Cooperation Sahar Nasr says.

The governorate will see the establishment of the investment zone and the development project of Lake Burullus Corniche worth EGP 24 mn along 2500 meters for the first and second phases.

Nasr decided to establish a free zone in Kafr El-Sheikh near the investment zone to attract new investments.

The investment zone is worth EGP 200 bn, with expectations to provide 250,000 job opportunities and support national economy with EGP 50 bn annually.