GV Development, the general developer of Tarboul City in Atfeeh village in Giza, signs an agreement with Amarenco Solarize, Invest-Gate reports.
Under this agreement, the French Company will invest $ 255 mn in infrastructure, clean energy, and green hydrogen in phase I that is being implemented recently.
This agreement is considered the company’s first investment in infrastructure for the Tarboul project. It also complements the efforts of GV Development in supporting Egypt’s Vision 2030 and goes in line with the government’s direction to encourage industrial investment, national output, job opportunities, and encourage Egypt’s exports and reduction of imports.
Sherif Hamouda, chairman of GV, says that Tarboul City is the largest smart industrial city in Egypt, which includes large, medium, and small industrial projects. The company is keen to partner with Amarenco Solarize in order to implement phase I of Tarboul’s infrastructure with environmentally friendly specifications.
Additionally, GV Development seeks to attract more foreign investors to Tarboul City in the coming period. Hence, the company prepares a marketing plan to promote the city locally and abroad.
Hamouda indicates that Tarboul City will be an attractive destination for industry and investment, and it is planned to be established in 13 phases over 16 years. The city will include efficient means for using resources and waste recycling systems to provide the highest quality of air and water. Also, Tarboul will rely on using smart manufacturing and the latest technology services.
It is worth noting that the infrastructure of Tarbol City will be equipped with the latest infrastructure and technology, according to the highest quality standards to accommodate industrial production and logistics centers, in addition to residential, commercial, and social services.
Tarboul City spans over 109 mn sqm ib Giza and is located 5 km from the Nile River, 44 km from Helwan neighborhood and 77 km from the 6th of October City and 83 km from the NAC, 109 km from Sokhna port, and 160 km from the Red Sea.
The city is also distinguished by its closeness to the main road network, including the Cairo – Assiut Road, the Regional Ring Road, Cairo Sokhna Road, Fayoum – October Road, and Al Karimat – Zafarana Road.
Alike, Tarboul incubates several investment areas owing to its industrial activities, including Food Technology Valley, Automobile Axis, Engineering Axis, Medical Center, Textile and Clothing Center, Building Materials City, and Chemicals and Plastics City.