Cairo – Mubasher: The Egyptian Minister of Public Business Sector, Hisham Tawfik, and Minister of Housing, Assem El-Gazzar, witnessed the signing of protocols of cooperation between the New Urban Communities Authority (NUCA) and Cotton & Textile Industries Holding Co to develop some of the company’s unused assets or sell some of them to NUCA.
The public business sector ministry has collaborated with the concerned authorities to change the purpose of unused land plots to residential or mixed in order to achieve the highest investment return, Tawfik said in a statement on Tuesday.
Proceeds from investments in these land plots will be used to finance the EGP 21 billion plan to upgrade the textile and cotton industries.
