Orientals for Urban Development (OUD) and Orientals for Industrial Development, subsidiaries of Oriental Weavers Carpet, have launched Orientals Industrial City in Ain Sokhna with around EGP 13 billion worth of investment.
Located in Ain Sokhna Industrial City, the new zone spans 10.5 million square-metre land plot, OUD’s chairman Asser Hamdy said on Wednesday.
The new city is set for completion within five years, added, pointing out that the first phase of the project will be implemented in nine months.
The project has been designed to embrace the light, medium, and heavy industries, Hamdy highlighted, adding that it will feature commercial, administrative, and recreational buildings, as well as integrated residential complexes.
The companies aim at offering over 120,000 direct and 600,000 indirect jobs through this project, he remarked.
Ain Sokhna Industrial City has around 1,012 industrial units, with area sizes ranging from 600 metres to 500,000 metres, in addition to services and residential units, he indicated.
The chairman also revealed that OUD is building equipped housing units for clients, and a hotel for businessmen.
