CPC Constructs First Integrated Complex Under Egypt Industrial Developer Code

Egyptian Minister of Industry and Trade Eng. Hatem Saleh recently inaugurated three factories in 6th of October City specializing in the manufacture of aluminum, glass and recycling of mineral water bottles. The minister, accompanied by a high-level delegation of senior industry officials.

On this occasion, 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.”

Meanwhile, Dr. Faysal Alaquil, CPC Director of Business Development & CSR and official spokesperson said: “CPC is 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 over an area of 1.5 million square meters. In 2010 the company completed all utilities and infrastructure works of the complex, and successfully marketed the industrial lands inside the complex.”

Dr. Alaquil further said “the experience of industrial developers zones in Egypt proved to be a success and recorded significant growth, as the Industrial Developer project relieves the government of burden in terms of preparation of lands designated for industrial development and building the necessary infrastructure. CPC currently considers the export of this experience to other countries that needs the development of infrastructure for industrial zones.”

Dr. Mohammed Masoud Al-Yafi, Director of CPC – Egypt for Industrial Development, said “CPC industrial 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. CPC will also build a group of plants that specialized in construction materials inside the complex with 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.”

Source: ME Newswire – Press Release – 30 December 2012