Egypt’s supply ministry signs deals to establish 3 logistic areas at over $261mln

Newspaper Title: https://www.zawya.com/

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Monday - 22 August 2022

Cairo – Egypt’s Internal Trade Development Authority (ITDA), affiliated to the Ministry of Supply and Internal Trade, has signed contracts worth EGP 5.5 billion for three new investment opportunities that will be available in three governorates, Ahram Gate reported on Monday.

The three governorates are Suez, Kafr ElSheikh, and Dakahlia.

Head of ITDA, Ibrahim Ashmawy, said the first opportunity will be available at Suez governorate, and it is a storage project for drug distribution, in favour of a pharmaceutical company. The project will cost EGP 500 million and will provide 2,000 job opportunities.

The second opportunity will be available at Kafr ElSheikh governorate, and it is a storage logistic area with investments of EGP 2 billion, providing up to 9,000 direct and indirect job opportunities.

In Dakahlia, a Saudi Arabian company will establish a project on a land plot spanning 46 feddans with investments of EGP 3 billion.

Ashmawy further noted that ITDA invests about EGP 50 billion with the private sector under the usufructuary right system.