“Silicon Valley” Investements Reach EGP 1 bln: Hatem Saleh

Eng. Hatem Saleh, Minister of Industry and Foreign Trade, revealed that the processes of entering facilities to “Silicon Valley” project have been kicked off. The project is in west Ismailia, with EGP 1 billion investing cost.
On the sidelines of “fighting corruption” conference, held yesterday by Egyptian Junior Business Association (EJB), the minister added that the project include 10 under formation companies with joint Egyptian-Chinese investment. The project is to perfectly use the white sand, in the light of the ministry’s strategy in order to improve using the state’s resources. This is to positively reflect on economy.
The project depends on producing solar cells of generating electricity, as well producing electricity estimated with 650 Megawatt.  It also includes producing power strips, factories for optical fiber cables. The project will be implemented on a n area of 50 acres.
This comes in the framework of the government’s plan to develop Sinai, establishing industrial zones depend on using the available resources.