This image will be automatically disabled when it gets reported by several people.
IDA extends application period for Raswa complex until 4 May The authority increased the period of application submission because there was a high demand on industrial facilities and some investors have not completed their papers yet
The Industrial Development Authority (IDA) extended the deadline for receiving investors' applications to obtain completed industrial facilities at the complex in south Raswa in Port Said until 4 May. A source in the IDA told Daily News Egypt that the extension of the application period for the Raswa complex was due to the high demand on the units and to give a chance for investors who are not finished with their paperwork yet. He added that the total number of applicants reached about 200 investors. The IDA has offered completed industrial complexes to investors in the south Raswa complexes in Port Said in the period from 7 to 16 March. The applications should have been submitted after the completion of documents from 26 March to 13 April at the IDA's headquarters. He pointed out that the complex was built on an area of 180,000 sqm, which includes 118 factories for various industrial activities on different areas ranging between 300 and 840 sqm, at prices ranging from EGP 1m to EGP 4m. The authority sells the project's conditions booklet at a non-refundable EGP 2,000. The applicants must pay 5% of the total price of the factory and submit a feasibility study and the rest of the required papers according to the conditions. The source pointed out that accepted applicants must pay more than 20% of the total price of the factory. The remaining 75% of the factory's price can be paid in cash or bank installments for 10 years. The investors can also pay part of the price in cash and the rest in installments for 10 years, through two certain banks selected by the authority. President Abdel Fattah Al-Sisi had ordered the Ministry of Industry and Trade to expand in the establishment of industrial complexes for small and medium-sized enterprises (SMEs), on a lease system for 49 years. The authority seeks to offer 12 industrial complexes by the end of this year, eight of which will be located in Upper Egypt, including 200 units in each.
