INVESTMENT WATCH- Consortium including Arafa, Dice bids for USD 324 mn Minya textile city project: A consortium that includes Arafa Group, Dice Sports and Casual Wear, Giza Spinning and Weaving, Nile Co., and the Tahya Misr Fund have submitted a request to the General Authority for Freezones and Investment (GAFI) to construct the Minya textile city project for an estimated investment cost of USD 324 mn. The group is hoping to turn the 306-feddan project into an export-oriented freezone, sources close to the matter tell Al Mal. The consortium is in ongoing talks with Chinese partners, with whom they plan to establish a joint venture with equal ownership stakes to run the 306-feddan project.

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