By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
    TikTok updates its community guidelines
    March 23, 2023
    IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
    IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
    March 23, 2023
    Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
    Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
    March 23, 2023
    EFG Hermes records EGP 11bn revenue in FY22
    EFG Hermes records EGP 11bn revenue in FY22
    March 23, 2023
    Egyptian Environment Minister discusses cooperation with WFP representative in Cairo 
    Egyptian Environment Minister discusses cooperation with WFP representative in Cairo 
    March 23, 2023
  • Politics
    PoliticsShow More
    Egypt's Health Minister discuss bilateral cooperation with an Italian delegation 
    Egypt’s Health Minister discuss bilateral cooperation with an Italian delegation 
    March 23, 2023
    Egypt’s foreign minister phones Algerian counterpart over boosting ties
    Egypt’s foreign minister phones Algerian counterpart over boosting ties
    March 22, 2023
    Turkish President  Recep Tayyip Erdoğan and Egypt President Abdel-Fattah Al-Sisi met in Doha
    Opinion| Türkiye and Egypt: For better times with many opportunities
    March 22, 2023
    Drought caused 43,000 deaths in Somalia in 2022: UN
    Drought caused 43,000 deaths in Somalia in 2022: UN 
    March 22, 2023
    Opinion| The Chinese dragon occupies America's place in the Middle East
    Opinion| The Chinese dragon occupies America’s place in the Middle East
    March 22, 2023
  • Interviews
    InterviewsShow More
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    December 27, 2022
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Matrouh recovers 4,340 feddans worth EGP 9bn from 40 non-compliant investment projects
Share
Notification
Latest News
Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
TikTok updates its community guidelines
Business
Strong representation of women in TV series of Ramadan 2023
Strong representation of women in TV series of Ramadan 2023
Culture Cinema
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
Business
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Business
EFG Hermes records EGP 11bn revenue in FY22
EFG Hermes records EGP 11bn revenue in FY22
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Matrouh recovers 4,340 feddans worth EGP 9bn from 40 non-compliant investment projects
Business

Matrouh recovers 4,340 feddans worth EGP 9bn from 40 non-compliant investment projects

Fatima Hassan
Last updated: 2017/07/22 at 7:14 PM
By Fatima Hassan 4 Min Read
Share
Alaa Fathy Abu Zeid, the governor of Matrouh,
SHARE

Alaa Fathy Abu Zeid, the governor of Matrouh, said that the governorate has recovered 4,340 feddans worth EGP 9bn from 40 investors during the past months.

He told Daily News Egypt that the governorate has recovered 471 feddans from 15 investment projects after the court ruled the return of these allocated land for these projects to the state. It also recovered 3,870 feddans from 26 projects that violated the terms of their contracts with the governorate.

Abu Zeid added that Matrouh has recovered 100% of the looted land from 2015 to the middle of this year, vowing to face any attempts to acquire the state land illegally in the future.
President Abdel Fattah Al-Sisi has tasked all the governors in last June to remove all violations on the state lands.

Abu Zeid said that he seeks to implement several investment projects in the governorate to improve services offered to local and foreign tourists, which will attract more of the visitors annually.

He said that the governorate aims to attract 7.5 million local tourists by the end of this year, compared to 6 million tourists last year.

He pointed out that the governorate has succeeded in solving the biggest crisis suffered by visitors, such as the lack of fresh water and water supply networks in all regions.

Abu zeid pointed out that Matrouh considers organising a new economic conference to present investment opportunities in the governorate, especially after the success of the first economic conference held in 2015.
He noted that the governorate has offered 18 projects in the first conference, 11 of which were implemented at a cost of EGP 22bn. The governorate seeks to implement seven other projects at an investment cost of EGP 100bn.

Matrouh had organised an economic conference at the end of October 2015 to present a wide range of investment opportunities, most notably the establishment of fish farms on an area of 10 sq. km, large poultry farms on an area of 270,000 feddans south of the city of Hammam. In addition, the governorate offered the reclamation and planting of 40,000 feddans, which will rely on the groundwater in the village of Qara Umm al-Saghir in Siwa to increase the production of agricultural products, such as olives, and medicinal and aromatic plants.

Abu zeid pointed out that the governorate has doubled the electricity capacity of its cities to reach 80 MW compared to 40 MW in the previous years, through replacing the air cables to ground cables in Hammam, Siwa and Sidi Barani.

He added that Matrouh has completed the development of electricity networks in the governorate at an investment cost of EGP 930m within two years, saying “there is no place in the province without electricity now.”

He said that the governorate recently succeeded in introducing 45 buses within the project of collective transport through donations to businesspeople to resolve the crisis of mobility within the province.

Abu Zeid referred that the governorate has developed a factory of children meals worth EGP 2m in addition to the development of the gas plant at a cost of EGP 10m bringing its total a capacity to 35,000 per day to eliminate the problem of shortage of gas, which had a negative impact on hospitals and restaurants.

He concluded that the governorate has managed to eliminating the phenomenon of illegal immigration through cooperation and intensify efforts with the armed forces and police.

You Might Also Like

TikTok updates its community guidelines

IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses

Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023

EFG Hermes records EGP 11bn revenue in FY22

Egyptian Environment Minister discusses cooperation with WFP representative in Cairo 

TAGGED: Investment, Matrouh
Share this Article
Facebook Twitter Email Print
Previous Article police , shot Police kills two Hasm militants in Fayoum
Next Article PayMob payments launches ‘Accept’ service for e-commerce on social media
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
TikTok updates its community guidelines
Business
Strong representation of women in TV series of Ramadan 2023
Strong representation of women in TV series of Ramadan 2023
Culture Cinema
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
Business
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?