Alexandria’s governor and the board of directors of Alexandria’s free trade zone recently agreed to implement 15 new investment projects with a base capital exceeding $67 million.
Future investments are expected to reach over $263 million. The projects will include automobile factories, textile mills, computer factories and natural gas production plants.
Last year, Egypt began a modernizing program of Alexandria with a number of projects valued at approximately $250 million, to be funded by private institutions.
The projects, expected to take about two or three years, include the construction of a five star hotel, new passenger terminals, computerizing customs and administration procedures as well as the deepening of the Alexandria port. Authorities have expressed a desire to double the amount of goods passing through the port from 54 million tons to 100 million tons annually. –(MENA Report)
© 2001 Mena Report (www.menareport.com)
