Two New Companies to be Set up in Egypt’s Borg Al Arab City

Published September 29th, 2001 - 02:00 GMT

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 

 


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