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Industry Minister inaugurates 3 factories worth EGP 362m in Kafr El-Dawar Launch of new stock market for fruits and vegetables in Badr centre at a cost of EGP 590m
Minister of Industry and Trade Tarek Kabil inaugurated three factories with Egyptian investments worth EGP 362m on Thursday in Kafr El-Dawar city in Beheira governorate. The factories' exports of garments, upholstery, dyeing, and printing products are intended to exceed $2m, and are operated by 800 workers. Kabil said that establishing a new generation of specialised industrial clusters tops the priorities of the ministry's plan during the current phase. The ministry is targeting to expand the establishment of such clusters to increase the added value and deepen the domestic industry, thereby increasing their competitiveness in domestic and international markets. He pointed out that three industrial clusters of small industries are currently being implemented in South Raswa in Port Said, and Badr and Sadat cities. Kabil said that the textile industry zone in Kafr El-Dawar comes within the ministry's plan to set up an integrated industrial cluster of garment spinning, weaving, and dyeing on 570,000 sqm, divided into three phases. It is planned to divide the total area of the project into industrial lands ranging from 1,000 sqm to 12,000 sqm. He also inaugurated the commodity stock market of fruits and vegetables in Badr centre through a video conference. The stock market serves both Nubaria and El-Salhia, which together produce about 60% of vegetables and fruits crops in Egypt. The total investment in the commodity exchange amounts to EGP 590m. It is planned that the total revenue from the sale of agencies, refrigerators, and manufacturing will reach about EGP 273m, with a net yield of about EGP 47.5m in a year and a half. The ministry is planning to increase agricultural exports through the establishment of 24 export terminals to reduce agricultural losses, as well as through the establishment of an industrial zone on a 17-acre area that includes 26 plots of land for the industries that depend on agricultural production.
