CPC completes key Egypt industrial project
Cairo, December 23, 2012
Saudi Arabia-based Construction Products Holding Company (CPC) said it has completed the construction of the first integrated complex in Egypt at a cost of EGP200 million ($32 million).
Built on a sprawling 1.5 million sq m area in the 6th of October City, the new complex will accommodate more than 70 industrial projects, and aims to provide about 10,000 direct jobs inside the complex. The project was built under Egypt industrial developer code.
Egyptian Minister of Industry and Trade Hatem Saleh recently inaugurated three factories inside the complex specializing in the manufacture of aluminum, glass and recycling of mineral water bottles.
Speaking at the launch, the Egyptian Minister for Industry and Trade, said: "Industrial developer Code contributes to the establishment of clusters, highly specialized industrial and services zones, attract a large number of investors, pumps more investments, and creates a new industrial development focus on taking advantage of the potentials of the private sector, in line with the government efforts to attract skilled workers and specialized experts in marketing and promotion.”
Dr Faysal Alaquil, the CPC director of business development & CSR said, "We are proud to be the first company contracted by the Egyptian Industrial Development Authority for the development, construction, marketing and management of a private industrial complex under industrial developer code in 6th of October City."
"In 2010 the company completed all utilities and infrastructure works of the complex, and successfully marketed the industrial lands inside the complex," he stated.
Dr Alaquil pointed out that the experience of industrial developers zones in Egypt proved to be a success and recorded significant growth, as the industrial developer project relieved the government of burden in terms of preparation of lands designated for industrial development and building the necessary infrastructure.
CPC, he said, currently considers the export of this experience to other countries that needs the development of infrastructure for industrial zones.
Dr Mohammed Masoud Al-Yafi, the director of CPC – Egypt for Industrial Development, said, "The complex will accommodate more than 70 industrial projects, and will provide about 10,000 direct jobs inside the complex. The total investments of CPC in this project amounted to about EGP200 million."
Currently, 29 plants are under construction in the complex, while 14 plants started production in 2011, he stated.
According to him, CPC also plans to build a group of plants that specialized in construction materials inside the complex at an investment of about EGP 350 million.
"The first of these plants already started production, while the rest are expected to begin in the first half of 2013," he added-TradeArabia News Service