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Cairo Chamber of Commerce is planning to build an integrated city for engineering industries at a total investment of 4 billion Egyptian pounds ($203 million), a top Chamber official said
Board member of the Chamber’s tools and division Hamada El-Agawany told Zawya projects the proposed city, spread over an area of about one million square metres, would be located either in Badr City or Al-Shorouk.
He said negotiations are underway for land acquisition, and with Egyptian and international investors to invest in the project.
El-Agawany said the City will house units manufacturing manual tools such as screwdrivers, pliers, and tube wrench, in addition to engineering equipment such as CNC machines, laser cutting and welding machines, wire cutting machines, engraving machines, plastic injection and blowing machines, and packaging machines.
He said investors from Italy, Germany, Austria, China, Turkey and Saudi Arabia have expressed interest in being part of the project.
(1 US Dollar = 19.75 Egyptian Pounds)
(Reporting by Eman Hamed; Editing by Anoop Menon)
