Minister of Housing, Utilities, and Urban Communities Assem El Gazzar said 1,016 factories are underway in 10th of Ramadan City, with investments estimated at EGP 3 bn, Invest-Gate reports.
Providing roughly 87,000 jobs, these plants are set to generate EGP 8 bn annually, El Gazzar said in a ministerial statement on October 15, emphasizing that several lands have been recently allotted for the establishment of 340 factories, with areas ranging from 2,500 to 43,000 square meters.
The minister confirmed that the first-generation city currently runs 2,997 factories, with total investments of EGP 84 bn, producing EGP 162 bn per year and providing over 500,000 job opportunities, according to the statement.
Such projects are being implemented using the latest architectural systems, which were reinforced in designing the necessary facilities to suit all activities on-site, which will contribute to the development of the Egyptian industrial sector, the provision of abundant job opportunities for youth, and the production of the required essentials for factories’ operations, El Gazzar revealed.
He added that multiple workshops are being developed in the urban city at a total cost of EGP 590 mn, complementing the requirements for the successful operation of the various factories in 10th of Ramadan City.