Posted October 27, 2012 in News

Egypt: Ethiopia Grants Egypt 1 Million Cubic Meters to Establish Industrial Zone

Egypt State Information Service (Cairo)

Industry and Foreign Trade Minister Hatem Saleh said on Wednesday 24/10/2012 that Ethiopia granted one million cubic meters to establish an Egyptian industrial zone to boost trade, economic and investment activity between Egypt and the Nile Basin countries.

The Minister noted that Egypt is keen on offering all facilities needed to Egyptian investors to provide promising job opportunities to the African markets, adding new facilities will be available including all utilities required, usufruct for each investors fifty piasters per meter annually and Ethiopian Banks will finance Egyptian investors of 50-70 per cent of the project.

He pointed out that Egypt supports all producers who seek to establish projects in that industrial zone and holding investment partnerships with their Ethiopian counterparts that led to develop and extend the bilateral relations.