Arab Finance: The board of Al Ahly Industrial Development’s investment zone in Abu Rawash has approved the establishment of its first four projects as development moves forward on the EGP 14 billion zone, as per a statement.
The approvals cover Egyptian food producer Egyptian Canning Company (BEST), logistics solutions provider Nacita, quick-commerce company Breadfast, and warehousing and fulfillment company Flextock.
Best Egyptian Canning Company will establish a facility for food production, preservation, and packaging, while Nacita will provide storage and logistics solutions.
Breadfast’s project will focus on manufacturing, packaging, and distributing food products, while Flextock will manage warehousing operations within the zone.
The approvals were granted during a board meeting chaired by Mohamed Awad, CEO of the General Authority for Investment and Free Zones (GAFI). The meeting reviewed progress on the zone’s implementation and its efforts to attract new projects.
The review comes under directives from Mohamed Farid Saleh, Egypt’s Minister of Investment and Foreign Trade, to monitor corporate expansions and address obstacles facing investors.
Sameh Gabra, managing director of Al Ahly Industrial Development, said the company has completed around 70% of the infrastructure and site preparation work for the project’s first phase. He highlighted cooperation between GAFI and the company’s management, as well as an operating framework that allows investors to secure the required approvals through the zone’s board, which includes representatives of the relevant investment authorities.
Gabra also said the company is prepared to support development plans for the surrounding area as part of its corporate social responsibility and contribution to the state’s economic development efforts.
The zone is planned to accommodate 118 factories across a built-up area of 1.3 million square meters. Its entire site spans 2.1 million square meters, with the remaining land designated for roads, services, and green spaces.
Projects operating in the zone are expected to create 28,000 jobs across industrial activities, training centers, and logistics services.
