Saudi Bashayer Construction (SBC) is planning to invest one billion Egyptian pounds ($32 million) in Egypt as an industrial developer for companies seeking to set up manufacturing projects in the Arab country, according to a statement issued by Egypt’s Ministry of Trade and Industry.

Trade and Industry Minister Ahmed Samir was quoted as saying that the Company has launched a study to assess the market, the statement said, adding that Sadat City is among the locations proposed for this project.

SBC will leverage its German partner's expertise in sustainable energy, recycling, and waste treatment to attract German companies operating within these sectors, the statement noted.

General Manager of SBC, Mohammed Al-Saqili said the company has extensive experience in the real estate and infrastructure sectors within the Kingdom.

(1 US Dollar = 30.90 Egyptian Pounds)

(Writing by Nadim Kawach; Additional writing by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.