Cairo – Mubasher: The Egyptian Emirates Company has launched the Markabat project, the first integrated industrial city for automotive feeder industries in the Middle East, according to a press release.

The project, which included joint Egyptian-Emirati investments, aligns with the Arab Republic’s urban and industrial development plans at a total investment of EGP 27 billion.

The Chief Commercial Officer at Egyptian Emirates, Alaa Ali, highlighted that the company has more than 20 years of experience in the Egyptian, Emirati, and Chinese markets.  

Ali indicated that the project’s initial phase covers an area of 140,000 square metres (m2)and investments totalling EGP 2 billion. The project's total area is expected to reach EGP 3 billion m2 over three years.

The joint project is located on the Cairo-Asyut Desert Road, 15 minutes from Helwan, 60 kilometres from the New Administrative Capital (NAC), and 100 kilometres from Ain Sokhna Port.

The company aims to achieve sales at an amount of EGP 6 billion by 2024. The project includes all smart services, infrastructure, security, and modern surveillance systems.

Meanwhile, around 20% of the project has been completed, with plans to finish all execution works within a year.

Egyptian Emirates targets contracting with several major global brands to participate in the project, as they have already contracted with the Emirati HAMCO.

Furthermore, the company aims to establish the first platform for selling and exporting automotive components abroad.