- BoD Approves Establishment of First Four Projects in the Zone by Best, Nasita, Breadfast, and Flexstock
- Zone Targets Establishment of 118 Factories and Creation of 28,000 New Jobs
In implementation of the directives of Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, to continuously monitor companies’ expansions and address any obstacles facing investors, Dr. Mohamed Awad, GAFI CEO, chaired a meeting of the Board of Directors of Al Ahly for Industrial Development Investment Zone in Abu Rawash to follow up on the implementation progress of the project plan and assess the success of the Zone’s management in attracting new projects.
Dr. Mohamed Awad announced that the Zone’s BoD had approved the establishment of the first four projects in the zone: the Egyptian Canning Company “Best” project for the production, preservation, and packaging of food products; the Al Ahlia Commercial Company “Nasita” project for agricultural, chemical, and industrial activities and storage and logistics solutions; the “Breadfast” project for the manufacturing, packaging, and distribution of food products; and the “Flexstock Egypt” project for managing storage operations.
Eng. Sameh Gabra, Managing Director of Al Ahly for Industrial Development, announced that the company had completed approximately 70% of the infrastructure and site preparation works for the first phase of the project. He commended the cooperation between GAFI and the company’s management, as well as the efficiency of the investment zones framework, which enables the company to obtain all required approvals from a single entity: the Board of Directors of the Investment Zone, which includes all relevant authorities concerned with investment.
He affirmed the company’s readiness to contribute to the development plans for the area surrounding the investment zone, as part of its community role in supporting the state’s economic development plans.
The Zone is planned to accommodate 118 factories across the built-up area of the zone, which covers 1.3 million square meters out of the total investment zone area of 2.1 million square meters. The remaining area will be allocated to roads, services, and green spaces, with total investment costs amounting to EGP 14 billion.
The Investment Zone’s projects are expected to create 28,000 jobs across the industrial, training centre, and logistics services sectors.
