IDA agrees to extend construction deadline for 1,000 factories project investors for 6 months

The Industrial Development Authority (IDA) has agreed to give 20 investors from the New Cairo 1,000 factories project a six-month extension to the deadline to either begin construction or production, or risk losing their plots, says Hesham Kamal, a member of the factories’ investors union. The deadline expires in January 2019. The IDA had previously issued several warnings, which the investors have not been heeding.