Prime Minister Sherif Ismail witnessed on Tuesday the inking of an agreement between the Ministry of Trade and Singapore holding company for construction to establish a comprehensive industrial city in northern Fayyoum.

Established over 33 million square meters, the city comprises a mega technological valley and an integrated city that includes all living standards, Minister of Trade Tarek Qabil said after signing of the MoU.

He stressed that the project will make a quantum leap in Egypt’s industry.

It will be implemented in cooperation with Industrial Development Authority that will provide the land for establishing the project, Qabil said.

The minister went on to say that the studies of the project will be finalized within seven to eight months and the construction will start within a year.

Source : Mena