29 January, 2020

CORRECTION: Polaris Al Zamil launches second phase of Bosla industrial complex in 6th of October City

80 percent of Bosla 1 has been delivered

Image used for illustrative purpose. A Chinese construction labourer works at the site of Iconic Tower skyscraper, at its foundations in the business district, being built by China State Construction Engineering Corp (CSCEC) in the New Administrative Capital (NAC) east of Cairo, Egypt May 2, 2019. Picture taken May 2, 2019.

Image used for illustrative purpose. A Chinese construction labourer works at the site of Iconic Tower skyscraper, at its foundations in the business district, being built by China State Construction Engineering Corp (CSCEC) in the New Administrative Capital (NAC) east of Cairo, Egypt May 2, 2019. Picture taken May 2, 2019.

REUTERS/Amr Abdallah Dalsh

(Name of the project corrected to Bosla) 

Egypt's Polaris Al Zamil Industrial Park (PZIP) will start construction of Bosla 2 industrial complex in the 6th of October City in February, the company's Deputy General Manager told Zawya Projects.

The Bosla integrated industrial zone project targets the small and medium enterprises (SME) sector with 'Plug & Play' units that could serve as industrial units or warehouses, according to past statements from PZIP.

Bassel Shoirah said the 42,000-square metre (sqm), 62-unit Bosla 2 is expected to cost 250 million pounds ($16 million), the same as the 55,000 sqm Bosla 1, and is scheduled to be completed in 2021.

The company had said in a related press statement that 80 percent of the 56-unit Bosla 1 has been delivered. The statement also noted that total investment in both phases stood at 2.4 billion pounds ($158 million).

PZIP is a joint venture between Polaris International Industrial Parks, a Turkish-Egyptian venture and Saudi Arabia-based investment company Zamil-Holding.

(1 US Dollar = 15.79 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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