Two New Companies to be Set up in Egypt’s Borg Al Arab City
Egypt’s General Authority for Investment and Free Zones (GAFI) has approved the establishment of two industrial companies in new Borg Al Arab city, near Alexandria, reported the Cairo-based Middle East Times weekly.
"The first company was founded with licensed capital of E£50 million and issued capital of E£10.5 million, as well as investment costs of E£30 million," GAFI Chairman Mohamed Al Ghamrawi said.
He said the first company aims to set up and operate a factory for advanced building materials and other products related to the construction industry.
The second company aims at establishing and operating a factory for the manufacturing and packaging of foodstuffs, he said -- Albawaba.com