{"id":606321,"date":"2023-09-14T00:00:00","date_gmt":"2023-09-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/14\/private-players-in-talks-to-develop-usd-2-bn-eastern-desert-industrial-zone\/"},"modified":"2023-09-14T00:00:00","modified_gmt":"2023-09-14T00:00:00","slug":"private-players-in-talks-to-develop-usd-2-bn-eastern-desert-industrial-zone","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/14\/private-players-in-talks-to-develop-usd-2-bn-eastern-desert-industrial-zone\/","title":{"rendered":"Private players in talks to develop USD 2 bn Eastern Desert industrial zone"},"content":{"rendered":"

Private players could invest big in the Golden Triangle: <\/strong> A handful of private players are in talks with the government to help set up an industrial zone in the Eastern Desert\u2019s Golden Triangle<\/a>, government sources confirmed to Enterprise after the news was first reported by Asharq Business<\/a>. The planned industrial zone\u2019s first phase is set to cost USD 2 bn in initial investment, says Asharq, adding that the zone will ultimately cater to the mining, agriculture, trade, and tourism sectors.<\/p>\n

Who\u2019s in the run <\/strong> ning? <\/strong>Orascom Construction subsidiary Orascom Industrial Parks, IDG, Elsewedy Industrial Development, and CPC Egypt have all held meetings with the government about their potential involvement, sources with knowledge of the discussions tell us. Polaris Parks was also named by Asharq and confirmed by our sources, though the company\u2019s general manager, Bassel Shoriah, told us that it is not in fact involved. Elsewedy and Orascom declined to comment when we reached out yesterday. Representatives of IDG could not be reached.<\/p>\n

A group project? <\/strong>The government expects to reach an agreement with \u201cseveral\u201d of the developers in early 2024, our sources said. The developers will be responsible for parceling out the land by sector and allocating plots to investors, they said, adding that the zone has already received offers from companies working in cement, building materials, glass, silicon, rubber, phosphate, and gold refining.<\/p>\n

ICYMI- <\/strong>Earlier this summer, the zone received<\/a> three offers from local and international investors to set up fertilizer complexes worth a total USD 1.6 bn.<\/p>\n

What\u2019s so golden about this triangle? <\/strong> Located in the area between Qena, Safaga and Quseir, the 2.2 mn-feddan desert area is thought to hold some 75% of the country\u2019s entire mineral wealth \u2014 including reserves of gold, iron, copper, silver, granite, and phosphates. Phosphates are a key component of fertilizer, one of the country\u2019s most lucrative exports. <\/p>\n

Years in the making: <\/strong>Plans to develop the Golden Triangle Economic Zone go back further than 2016<\/a>, when a study conducted by Italian consulting firm RINA<\/a>(formerly known as D\u2019Appolonia) and funded<\/a> by the Kuwait Fund for Arab Economic Development estimated the project to be worth some USD 16 bn. In the following years, the state established the authority responsible for the zone and made the necessary land transfers, before the pandemic arrived and stalled investment, government sources told us. <\/p>\n","protected":false},"excerpt":{"rendered":"

Orascom, Elsewedy, CPC Egypt, and IDG are all in talks to establish the zone<\/p>\n","protected":false},"author":1,"featured_media":606322,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[6836,8377,72,2764,7196,125,131,373,363,8499,2763],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-606321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-cpc-egypt-for-industrial-development","tag-elsewedy-industrial-development","tag-enterpriseam","tag-industrial-development-group","tag-industry","tag-investment-watch","tag-manufacturing","tag-mining","tag-orascom-construction","tag-orascom-industrial-parks","tag-polaris-parks","wpautop","entry"],"acf":{"mongo_id":"9acc8146-5df7-47ef-8b4a-8b651978d5d0","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/9\/951.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian private players in talks to develop USD 2 bn Eastern Desert industrial zone","related_issue":[606316],"teaser":"Orascom, Elsewedy, CPC Egypt, and IDG are all in talks to establish the zone","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/9\/.d57c9c4b-3879-46b3-91f5-b5ed1cfb39ec.mp3"},"yoast_head":"\nPrivate players in talks to develop USD 2 bn Eastern Desert industrial zone - 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PLUS: Suez Canal blockage, Bank ABC to sell Blom unit,","author":"enterpriseam admin","date":"5 June 2023","format":false,"excerpt":"Minister met with PM Madbouly and Industry and Trade Minister Ahmed Samir yesterday","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/171.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590446,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/19\/investors-pitch-for-three-fertilizer-complexes-worth-usd-1-6-bn\/","url_meta":{"origin":606321,"position":2},"title":"Investors pitch for three fertilizer complexes worth USD 1.6 bn","author":"enterpriseam admin","date":"19 July 2023","format":false,"excerpt":"More investment into the local fertilizer sector could be on the way:The General Authority for the Economic Zone of the Golden Triangle has received three offers from local and international investors to establish fertilizer complexes in the so-called Golden Triangle in Red Sea governorate, authority Chairman Adel Saeed told Asharq\u2026","rel":"","context":"In "Industry"","block_context":{"text":"Industry","link":"https:\/\/enterpriseam.com\/egypt\/category\/industry\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/764.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578525,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/elsewedy-electric-proposes-egp-20-bn-industrial-zone-west-of-cairo\/","url_meta":{"origin":606321,"position":3},"title":"Elsewedy Electric proposes EGP 20 bn industrial zone west of Cairo","author":"enterpriseam admin","date":"3 January 2023","format":false,"excerpt":"Elsewedy Electric wants to build an industrial park in New 6 October City: Elsewedy Electric is in talks with the government to build a new industrial zone in New 6 October City and will soon look to draw up contracts for the project, according to a cabinet statement. The three-phase\u2026","rel":"","context":"In "Manufacturing"","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/40.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":588086,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/06\/indian-firm-to-build-plastics-plant-in-sczone\/","url_meta":{"origin":606321,"position":4},"title":"Indian firm to build plastics plant in SCZone","author":"enterpriseam admin","date":"6 June 2023","format":false,"excerpt":"SCZone CEO Gamal El Din and SCZone delegation will head to India","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/215.jpeg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549375,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/14\/elsewedy-electric-opens-second-phase-of-industrial-complex-in-tanzania\/","url_meta":{"origin":606321,"position":5},"title":"Elsewedy Electric opens second phase of industrial complex in Tanzania","author":"enterpriseam admin","date":"14 September 2022","format":false,"excerpt":"Elsewedy Electric opens second phase of Tanzania industrial park: Elsewedy Electric opened a transformer factory in Tanzania yesterday, the company said in a statement (pdf) to the EGX, marking the second phase launch of its USD 50 mn Kigamboni industrial complex. The factory has an annual production capacity of 2.5k\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/606321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=606321"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/606321\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/606316"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/606322"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=606321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=606321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=606321"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=606321"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=606321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}