Egypt is moving forward with plans to develop a vast industrial zone in the Golden Triangle region of Upper Egypt. According to three government sources, the General Authority of the Golden Triangle Economic Zone (GTEZ) is in discussions with two industrial developers to establish this ambitious project.
The first phase of the industrial zone is expected to require investments of up to $2 billion. This initiative aligns with Egypt’s efforts to harness its underutilized mineral resources and promote development in Upper Egypt. The Golden Triangle Economic Zone (GTEZ) was established in July 2017 by President Abdel Fattah al-Sisi to leverage the region’s potential for mining investments.
The GTEZ encompasses an extensive area spanning from the southern city of Qena to the Red Sea towns of Safaga and Qoseir, covering over 2.2 million feddans. This economic zone is designed to accommodate various activities, including mineral extraction, industrial facilities, tourism zones, commercial hubs, agricultural areas, and urban development.
The government sources also revealed that the GTEZ authority has identified five Egyptian industrial developers interested in participating in the project. These companies include Orascom Industrial Parks, ElSewedy Industrial Development, CPC Egypt for Industrial Development Company, Polaris Parks, and IDG-Industrial Development Group.
Egypt’s ambitious plans to create a massive industrial zone in the Golden Triangle region signal the country’s commitment to economic growth and development, particularly in areas with untapped potential.
