CPC Egypt has signed a landmark contract with the General Authority for Industrial Development (GAID) to develop a 1.5 million square metre industrial zone in Cairo.
The new zone is set to be the largest integrated construction foodstuff and textile complex in Egypt, and hopes to create 10,000 new jobs.
CPC is a branch of Saudi-based Construction Products Holding Company (CJSC).
Mu'taz Sawwaf, CEO of CPC, Dr. Faysal Alaquil, CPC spokesman and director of business development, and Amr Mohammed Aasal, chairman of the board of directors of the GAID attended the signing ceremony.
"CPC is delighted to have this excellent opportunity to share our experience and expertise in the development of an industrial complex that is expected to provide further impetus to the economic growth of the country," said Dr. Alaquil.
He added that the industrial zone would allocate specific areas to various industries; 60% of the facility will go to building materials, 20% to foodstuffs, and the remaining 20% to the textile industry.
"These will include areas that will be used for support facilities such as roads, water, electricity and communications," he said.
He also explained that the development would be divided into two phases; the first phase, which will take approximately two years to complete, will include preparation of the site and building the required infrastructure.
"During this period, we will initiate a campaign that will promote and market the industrial complex to tap prospective local and international investors. The second phase will include building CPC factories in Egypt for industrial development," he continued.
According to Dr. Alaquil, CPC will leave "no stone unturned" in ensuring that investors get the highest standards of service to enable them to grow.
"We're keen to start the development process, and we thank the General Authority for Industrial Development for their support that allowed us to obtain the industrial land in the most professional and expedient manner. We hope this will be the first of our many future projects in Egypt," he added.For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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