Masress : Matrouh governorate plans to invest $10bn in West El-Negaila development

Egypt scraps parliamentary election results in 19 districts over violations Egypt's public prosecution hands over seized gold worth $34m to central bank Finance ministry pushes trade facilitation with ACI rollout for air freight Abdelatty stresses Egypt's commitment to peaceful conflict resolution Deep Palestinian divide after UN Security Council backs US ceasefire plan for Gaza Health minister warns Africa faces 'critical moment' as development aid plunges Egypt's drug authority discusses market stability with global pharma firms SCZONE chair launches investment promotion tour in France Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date Egypt, Germany launch government talks in berlin to boost economic ties Egypt signs host agreement for Barcelona Convention COP24 in December Egypt's FRA Sandbox signs 3 tech partnerships to boost cybersecurity, innovation Gold prices fall on Tuesday Regional diplomacy intensifies as Gaza humanitarian crisis deepens Egypt's childhood council discusses national nursery survey results Al-Sisi urges probe into election events, says vote could be cancelled if necessary Filmmakers, experts to discuss teen mental health at Cairo festival panel Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy Cairo hosts African Union's 5th Awareness Week on Post-Conflict Reconstruction on 19 Nov. Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team Egypt launches National Strategy for Rare Diseases at PHDC'25 Egypt's Al-Sisi ratifies new criminal procedures law after parliament amends it Egypt adds trachoma elimination to health success track record: WHO Egypt, Sudan, UN convene to ramp up humanitarian aid in Sudan Grand Egyptian Museum welcomes over 12,000 visitors on seventh day Sisi meets Russian security chief to discuss Gaza ceasefire, trade, nuclear projects Grand Egyptian Museum attracts 18k visitors on first public opening day 'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo Egypt launches Red Sea Open to boost tourism, international profile Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism Sisi expands national support fund to include diplomats who died on duty Egypt's PM reviews efforts to remove Nile River encroachments Egypt will never relinquish historical Nile water rights, PM says Egypt resolves dispute between top African sports bodies ahead of 2027 African Games Germany among EU's priciest labour markets – official data Paris Olympic gold '24 medals hit record value It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game Russia says it's in sync with US, China, Pakistan on Taliban Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights Sudan says countries must cooperate on vaccines Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19 Egypt to tax bloggers, YouTubers Egypt's FM asserts importance of stability in Libya, holding elections as scheduled We mustn't lose touch: Muller after Bayern win in Bundesliga Egypt records 36 new deaths from Covid-19, highest since mid June Egypt sells $3 bln US-dollar dominated eurobonds Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform

Thank you for reporting!

This image will be automatically disabled when it gets reported by several people.

Matrouh governorate plans to invest $10bn in West El-Negaila development
The project includes the establishment of a coastal tourist city and an economic centre to provide 25,000 jobs

Daily News Egypt Published in Daily News Egypt on 06 - 08 - 2017

Governor of Matrouh Alaa Abu Zeid said that he plans to develop West El-Negaila City over three stages lasting for 10 years, with investments of $10bn.
Minister of Investment and International Cooperation Sahar Nasr visited on Sunday the project site in West Matrouh. During the visit, the governor said that the project includes the establishment of a tourist city and an economic centre, as well as a port and logistics, industrial, and residential areas, which will provide 25,000 jobs.
The first phase of the project will last for two years, with investments worth $1bn, including the construction of a port as well as the first phase of the logistics and industrial zones, Abu Zeid said.
The governor pointed out that a number of investors have offered to invest in the project and the governorate is currently studying their bids.
He stressed that the project has a national security objective to develop one of the closest areas to the western border with Libya, noting that the project will not affect the citizens of the province.
An employee in the West El-Negaila city council said that the National Service Projects Organisation affiliated with the Armed Forces will establish a fish farm in the city in partnership with a Saudi investor.
The project would include 42 fish tanks with investments of EGP 2bn.
He added that the residential area in the project will include 1,000 housing units, and there will also be military and commercial ports.
On the other hand, Abu Zeid said that the governorate will sign the planned contract of its new entertainment city during the National Day of the governorate. The project will be established on an area of 5,000 feddans on the order of Disneyland.
Minister Sahar Nasr said that Egypt aims to attract foreign direct investment worth $10bn in the current fiscal year in an attempt to increase economic growth and contribute to reducing unemployment rates and budget deficit.

Clic here to read the story from its source.