19 January 2020

Egypt's Polaris Al Zamil Industrial Parks (PZIP) is planning to start main construction of a 60,000-square-metre (sqm) complex for small and medium enterprises (SMEs) within its Polaris Sadat City master plan in the second quarter, the company's Deputy General Manager, told Zawya projects.

Polaris Sadat City is spread over an area of 1.4 million sqm.

Bassel Shoirah said construction of the SME complex would be completed over a period of 18 months with infrastructure works scheduled to start before the end-January.

Project value wasn't disclosed.

Shoirah said PZIP has sold plots totalling 150,000 sqm in Polaris Sadat City to investors from food, pharmaceuticals, engineering, chemicals, building and service industries.

He also disclosed that Polaris Suez Canal Company, a joint venture between PZIP and Egyptian developer ARDIC, is still awaiting allocation of plot for their industrial zone project in the Suez Canal Economic Zone (SCZone). The project was first announced in December 2018.

(Reporting by Eman Hamed; Editing by Anoop Menon)


Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© Thomson Reuters Projects News 2020