The Industrial Development Group (IDG) has launched its EGP 4.8 bn, 1.6 mn sqm industrial park in New October — dubbed e2 New October — CEO Shady William announced at a presser attended by EnterpriseAM yesterday. The park will host 100 factories, each covering at least 300 sqm, focusing on engineering, food, pharma, chemicals, and textiles, creating around 10k direct jobs, William said.

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The details: The industrial park aims to attract advanced, high-tech industries requiring sophisticated infrastructure to compete globally. It also seeks to draw foreign investment and support local manufacturers that meet high environmental standards and reduce their carbon footprint, in line with global trends.

REMEMBER- IDG secured the plot for the project from the New Urban Communities Authority in 2023.

IDG expects to complete infrastructure work and start selling plots within three to four years, William said. The company had launched the first phase of the project in March, with plans to deliver plots within a year.

This is IDG’s second industrial zone in the area — the group also has the e2 Octoberindustrial zone in 6th of October, which has so far seen high demand from industrial players with 89% of its plots already allocated, William said. The 3 mn sqm zone hosts 200 factories — 120 of which are already operational and 80 are under construction.

What’s next? IDG is looking to acquire a land plot in the new capital next year, as part of its efforts to expand nationwide, William added.

** We recently spoke to William for our My Morning Routine column, where he dove into his responsibilities as CEO, IDG, and industrial development as a whole. Check out the interview here.

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