CAIRO, Nov 26 (Reuters) – Egypt will quickly start promoting state-owned land to assist finance the restructuring of public sector corporations, the general public enterprises minister stated on Tuesday.
The ministry will change the zoning of 182 plots of business land owned by public sector corporations for actual property use and progressively promote them to the personal sector, Hisham Tawfik informed an financial convention in Cairo.
The ministry is working to get native permissions earlier than it begins providing the plots on the market, he added, with out giving particulars on the plots’ places or worth.
Reuters couldn’t instantly attain the ministry for additional remark.
The federal government has drawn up plans to show round loss-making sectors together with textile, chemical, pharmaceutical and metallurgical industries, which have been uncared for for many years.
Tawfik additionally stated that Egypt will provide 22% to 25% of shares in Heliopolis Firm For Housing and Improvement on the…