Arab Finance: The Council of Ministers approved a draft decision to establish a private free zone in the name of “Ghars Citrus Concentrates Company (L.L.C), on a plot of land with an area of 10,000 square meters in the industrial zone. South of Port Said city, Port Said Governorate.
According to the text of the decision, the private free zone is specialized in practicing the activity of producing citrus concentrates, and the company is committed to exporting no less than 100% of its annual production volume outside the country, and using a local component in its products at a rate of no less than 100%, in addition to its commitment to fulfilling industrial security conditions. Civil Defense and Fire, in accordance with the Egyptian code followed in this regard, or in accordance with the decisions issued by the Minister responsible for industrial affairs regarding industrial facilities, as well as obtaining the approval of the Environmental Authority for the project.
The General Authority for Investment and Free Zones is responsible for monitoring the activity of the private free zone, ensuring that it performs its work properly, and ensuring that the prescribed requirements are met and the procedures followed for conducting the activity are sound.
In the same context, it should be noted that the investment costs of the project amount to $10 million, and the project provides more than 300 job opportunities, and the annual production volume in the first phase of the project is expected to reach 2,500 tons/season.
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