Egypt, Spain launch industrial zone.CAIRO: Representatives from Egyptian and Spanish Spanish, river, c.150 mi (240 km) long, issuing from Spanish Lake, S Ont., Canada, NW of Sudbury, and flowing generally S through Biskotasi and Agnew lakes to Lake Huron opposite Manitoulin island. There are several hydroelectric stations on the river. companies announced plans for a $250 million industrial zone in a formal declaration of partnership ceremony on Tuesday. Egypt's Pyramids Industrial Parks and Spanish corporation Consorci de la Zona zona /zo·na/ (zo´nah) pl. zo´nae [L.] 1. zone. 2. herpes zoster. zona arcua´ta inner tunnel. zona cilia´ris ciliary zone. Franca de Barcelona will work together to establish an industrial zone in the Tenth of Ramadan City, which is to be occupied by Spanish companies and other European enterprises. The planned zone, to be called Pyramids Zona Franca Egypt, will be a comprehensive business zone with over 96 facilities and space for factories, small and medium businesses, and office space. The area, which will cover 2 million square meters Noun 1. square meter - a centare is 1/100th of an are centare, square metre area unit, square measure - a system of units used to measure areas , will also provide logistical lo·gis·tic also lo·gis·ti·cal adj. 1. Of or relating to symbolic logic. 2. Of or relating to logistics. [Medieval Latin logisticus, of calculation and residential services. The zone is expected to generate over 20,000 jobs and bring in LE 1.4 billion in investments as the project progresses. Though a memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. on the project was signed in 2008, yesterday's ceremony marks the official starting point Noun 1. starting point - earliest limiting point terminus a quo commencement, get-go, offset, outset, showtime, starting time, beginning, start, kickoff, first - the time at which something is supposed to begin; "they got an early start"; "she knew from the of the project. Minister of Trade and Industry Rachid Mohamed Rachid attended the event, which was hosted by the Ministry of Trade and Industry and the General Authority for Industrial Development.Aa The chairman of Pyramids Industrial Parks, Nehad Ragab, spoke about the significance of the new venture. "The partnership we are celebrating today by and between PI Parks and El Consorci de la Zona Franca de Barcelona, a leading Spanish company whose history goes back to 1916, is aligned to Egypt's national strategic plan for industrial development and will target diverse and major sectors such as construction engineering, food processing Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes. , building material, chemicals, medical equipment and textiles," he said. Representatives from Conscorci de la Zona Franca de Barcelona were also in attendance at the signing. Ahmed Sultan SULTAN. The title of the Turkish sovereign and other Mahometan princes. , managing director of Pyramids Industrial Parks, said that the zone's future structure is still in the planning phases In amphibious operations, the phase normally denoted by the period extending from the issuance of the order initiating the amphibious operation up to the embarkation phase. The planning phase may occur during movement or at any other time upon receipt of a new mission or change in the . "The financial crisis has impacted demand in Europe, so we are currently conducting market research there to find out which industries are in most demand. Using that information we will determine which companies to promote in the new zone," he said. Sultan added that textiles, medical equipment and building material manufacturers would likely be some of the industries represented in the new zone. The first factory on the project, ISKRAEMECO, began operations in February. ISKRAEMECO is a Slovenian manufacturer of devices for electronic energy measurement. The new operation is the result of LE 120 million in investments, and is the first factory to be constructed under the Program for Industrial Zones Development. The agreement to establish Pyramids Zona Franca Egypt is the latest move in a larger effort spearheaded by the Ministry of Trade and Industry to promote international trade and investment with diverse partners. The zone, based in Egypt's 10th of Ramadan city, could generate 20,000 jobs, officials said. Daily NewsEgypt 2009 Provided by Syndigate.info an Albawaba.com company |
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