Foundation stone of 2 logistics zones project laid in Egypt

20 Jun '23

1 min read

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Insights

The foundation stone of two logistics zones in Egypt's Kafr El-Sheikh governorate was laid yesterday by minister of supply and internal trade Ali El-Moselhy.
With an investment of $194 million, the project covering 22 acres will include warehouses, storage yards, facilities for wholesale trade, packaging, cold storage, service units and shopping centres.

Egypt's minister of supply and internal trade Ali El-Moselhy yesterday laid the foundation stone of two logistics zones in Kafr El-Sheikh governorate.

Spread across 22 acres, the project is being developed with an investment of 6 billion Egyptian pounds ($194 million), and will include warehouses, storage yards, facilities to support wholesale trade, packaging, cold storage, office units, service units as well as shopping centres, the ministry said.

The project will be completed within 36 months and is likely to generate around 20,000 direct and indirect job opportunities, said Ibrahim Ashmawy, first assistant minister of supply and chairman of the internal trade development authority (ITDA).

ITDA has implemented over 26 projects with investments exceeding $1.9 billion over the past five years, an Egyptian media outlet reported .

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