05 March 2014
Saudi Arabian and UAE investors have already lined up for Egyptian information technology projects (IT) worth USD 155 million (EGP 1.08 billion) being offered to the private sector, according to media reports on Wednesday.
"The technology zone has received offers from Saudi Arabia and the UAE to invest in these projects," said Mohammed Abdul Wahab, the zone's CEO.
The telecommunications ministry will present a total of 18 projects for the development being constructed in Al Maadi, Cairo, during 2014 and 2015, said the Arabic daily Al Jazirah in a report from Cairo.
Eight IT complexes, valued at USD 68.94 million (EGP 480 million), will be offered in the second half of 2014, whereas 10 other projects worth USD 86.17 million (EGP 600 million) will be floated in early 2015 as joint ventures between the public and private sector, it said.
Abdul Wahab expected the zone to attract nearly USD 560 million (EGP 4 billion) when it is completed by end-2015, adding that the major investments would come from the private sector.
© Zawya 2014
Saudi Arabian and UAE investors have already lined up for Egyptian information technology projects (IT) worth USD 155 million (EGP 1.08 billion) being offered to the private sector, according to media reports on Wednesday.
"The technology zone has received offers from Saudi Arabia and the UAE to invest in these projects," said Mohammed Abdul Wahab, the zone's CEO.
The telecommunications ministry will present a total of 18 projects for the development being constructed in Al Maadi, Cairo, during 2014 and 2015, said the Arabic daily Al Jazirah in a report from Cairo.
Eight IT complexes, valued at USD 68.94 million (EGP 480 million), will be offered in the second half of 2014, whereas 10 other projects worth USD 86.17 million (EGP 600 million) will be floated in early 2015 as joint ventures between the public and private sector, it said.
Abdul Wahab expected the zone to attract nearly USD 560 million (EGP 4 billion) when it is completed by end-2015, adding that the major investments would come from the private sector.
© Zawya 2014
