Sherif Hammouda, the chairman of the board of directors of the “JV” Development Company in Egypt, disclosed that 3 billion dollars had been invested in the first stage of the “Tarboul” industrial city project.
According to Sherif Hammouda, Tarbol’s marketing and implementation plan is moving forward on schedule and is attracting an impressive number of investors. For instance, 350 factories are currently being built, and contracting procedures with a local investor to run an educational complex with a university and schools for technical education on a 200,000 square metre plot have been finalised.
According to Hammouda, the first phase of the city of Tarbol’s urgent components will cost 255 million dollars to build.
The metropolis of “Tarabul” will be built in 7 phases, covering an area of 109 million square metres, connecting the governorates of Upper Egypt with the commercial hubs in the Delta.
The industrial complex known as “Torboul” consists of 12 different locations, including the Food Technology Valley, the Automotive Hub, the Engineering Hub, the Medical Center, the Textile and Clothing Center, the Building Materials City, and the Chemicals and Plastics City.
The city offers areas for administrative matters as well as others for various services, logistical facilities, buildings, and commercial outlets. It also houses hubs of industrial production and logistics as well as residential, commercial, and social services.
Hills, Shinawy, and Abu Arida Contracting are the three top-category contracting firms that have started working on preparing the land for the first phase, according to Hammouda.
Hundreds of requests to reserve spaces within the city had just been made, he continued, and some of them had already been fulfilled.
He emphasised that, in accordance with the government’s plan, the design of the recycling factories area has been finished in anticipation of the transfer of some of the manufacturers situated in the Naser facility area.
He claimed that the wholesale market area had been finished up entirely and that plans had been made to establish cooperation agreements with many banks in order to present Tarbol customers with suitable financing options before they began implementing their projects within the potential metropolis.
Source: cash.
Egypt is constructing “Tarabul,” a new city, at a cost of billions of dollars.
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