Egypt’s Badr Industrial City Investors started to launch a holding firm for developing the city by the next of Wednesday with EGP200 million initial capitals, Alaa Al Sakty, chairman of the board revealed.
The holding firm is the first alliance of private sector which includes 27 firms to support Egypt’s economy, stressing that several businessmen and investors will take part in this alliance most notably Mohamed Farid Khamis, chairman of Oriental Weavers Group and Safwan Thabet, head of the group supervisor for Food Industries- Juhayna, Al Sakty added.
In Statements to Amwal Al Ghad on Sunday, Al Sakty asserted that the alliance includes 4 groups such as energy, infrastructure and private industrial plots and private partnerships Group for identifying partnerships with foreign countries in addition to Grain storage group.
The firm’s role will focus on launching new factories and facilitating industrial plots and establishing housing city for the factories’ workers.
Moreover, Al-Sakty pointed out that it is schedule to announce for details over launching solar energy plant, stressing that the plant will generate 300 MW, and will be held on an area of 400 Feddan.
