Thursday June 13th, 2024
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USD 16 Billion Industrial City Will Be Established in Giza

To be funded by GV Investments, the new industrial city is expected to generate around 750,000 new job opportunities.

Cairo Scene

USD 16 Billion Industrial City Will Be Established in Giza

A new industrial city will be created on the outskirts of Aftih in Giza’s Western Desert at a value of USD 16.7 billion.

The new city, Tarboul, hopes to create a regional hub for economic and industrial growth. To be funded by GV Investments, the new industrial city is expected to generate around 750,000 new job opportunities.

Tarboul joins a collective of 16 investment zones in Egypt, five of which are still in the construction phase. Once these five new investment zones located in Cairo and Giza are completed, they are expected to create around 167,000 job opportunities. The total investment in these new developments amounts to USD 5.1 billion.

The construction of these industrial cities is part of the Egyptian government’s efforts to increase the role of the private sector in the country’s economy, aiming to increase its shares to 65% from the current 30%.

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