CPC to develop 1.5 million square meter industrial complex in Cairo

Present at the signing ceremony were Mr. Mu'taz Sawwaf - Chief Executive Officer of CPC (Construction Products Holding Company), Dr. Faysal Alaquil - Spokesman and Director of Business development of CPC and Mr. Amr Mohammed Aasal, Chairman of the Board of Directors of the General Authority for Industrial Development.

Speaking at the signing ceremony, Dr.Faysal Alaquil, Spokesman and Director of Business Development of CPC, expressed his gratitude to His Excellency the Minister of Industry, Eng. Rasheed Mohammed Rasheed, and to the Egyptian government, for the opportunity to work in Egypt. He said, "CPC is delighted to have this excellent opportunity to share our experience and expertise in the development of an Industrial Complex that is expected to provide further impetus to the economic growth of the country."

Dr. Alaquil further said that the Industrial zone will allocate specific areas to various industries; 60% of the facility will go to building materials, 20% to foodstuff, and the remaining 20% to the textile industry. "These will include areas that will be used for support facilities such as roads, water, electricity and communications," he added.

He also explained that the development will be divided into two phases; the first phase which will take approximately two years to complete will include preparation of the site and building the required infrastructure.

"During this period, we will initiate a campaign that will promote and market the industrial complex to tap prospective local and international investors. The second phase will include building CPC factories in Egypt for industrial development," he continued.

According to Dr. Faysal Alaquil, CPC will leave no stone unturned in ensuring that investors get the highest standards of service which will enable them to grow. Once established within the complex CPC anticipates the creation of 10.000 new jobs.

"We're keen to start the development process, and we thank the General Authority for Industrial Development for their support that allowed us to obtain the Industrial land in the most professional and expedient manner. We hope this will be the first of our many future projects in Egypt," he concluded.