Mubasher TV
Contact Us Advertising   العربية

EGP250m Emirati investments in Toshka’s infrastructure

EGP250m Emirati investments in Toshka’s infrastructure
Photo Credit: Arabianeye-Reuters

Cairo - Mubasher: Kader factory for Developed Industries is establishing projects to provide water and electricity for 30,000 feddans in Toshka, with Emirati investments nearing EGP 250 million, said the factory’s chairman, Abdul Sadek Ahmed.

The project is carried out in cooperation with the Water Department in the Egyptian Armed Forces Engineering Authority, Ahmed said in a press release on Monday.

He added that the project aims at the reclamation of 100,000 feddans, noting that work on the project began in cooperation with the UAE’s Al Dahra Agriculture Company since 2014.

Recently, the National Service Project Organisation (NSPO) acquired Kingdom Agricultural Development Company (Kadco) for EGP 1.25 million ($70,000).

Kadco, a subsidiary of Saudi prince Al Waleed bin Talal’s Kingdom Holding Company (KHC), was established in 1998 with $1000 in capital for the reclamation and development of 100,000 acres in Toshka.