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Up to 14 bids submitted by Int'l firmsto develop 270k feddans

Wednesday 06 February 2019 12:53 PM

Egyptian Countryside Company
Egyptian Countryside Company

By Al-Mal

The Egyptian Countryside Development Company, charged with developing and reclaiming half and million feddans,  received bids from world companies to cultivate up to 270,000 feddans.

" The bidders are made up of Cypriot, Saudi, Greek and Egyptian companies," said chairman and managing director of ECDC Atar Hanura.

ECDC is a state-owned entity that has been founded back in 2015 at EGP8bn capitalization to run project for developing up to half and million feddans of lands. Under the project, the lands can allure investments in agriculture, manufacturing, services, logistics and tourism.

Back in November, Hanura announced on the sidelines of Siwa Oasis Dates Festival that ECDC has sealed a contract with a Spanish investor to grow olive and  set up a plant for extracting olive oil over 30,000 feddans.

ECDC launched a large clampdown on offenders infringing upon its own lands in the Upper Egypt's West Elmenia where illegal buildings have been demolished over an area of 6200 lands which had previously been allocated to an Indian investor for setting up an industrial agricultural project.