Egyptian Free Media Zone to attract foreign investment
The Egyptian media advisor in Riyadh, Shuaeib Abdul-Fattah, stated that the Egyptian film and entertainment conglomerate, Media Production City (EMPC), is in high demand by Arab satellite television channels, reported Al-Jazira.
The EMPC, which enjoys a free zone status, owns two million square meters in the 6th of October city, within the compounds of the Media Free Zone. Its main activity is hiring out media production facilities to television and cinematic companies, and to a lesser extent conduct its own production.
The city currently operates 11 indoor studios and various outdoor areas. The company's main project, the Mubarak International Studio Complex, housing 18 state of the art studios, was inaugurated in mid-June.
EMPC released its results for the first half of the financial year 2001, in which net profit fell 5.8 percent to 19.41 million Egyptian pounds ($4.55 million), compared to LE20.64 million in the same period the previous year, according to the CASE Disclosure Department. — (menareport.com)
© 2001 Mena Report (www.menareport.com)