By: Abdullah Bedeir

Cairo – Mubasher: The Egyptian Industrial Development Authority (IDA) has submitted a request to the Ministry of Finance to arrange EGP 10 billion for the development of industrial zones, IDA’s chairman Magdy Ghazy said.

The IDA, together with the finance ministry, will set a plan to be executed over the next three years to develop industrial zones, Ghazy told reporters on Tuesday.

In case the full amount is arranged, a total of EGP 4 billion will be disbursed during fiscal year 2020/2021, he noted.

In October 2019, the IDA released the map of the first phase of industrial lands through its online portal, offering 2,050 lots in industrial zones.