Cairo - Mubasher: The Egyptian government has approved the establishment of a free zone in the City of Nuweiba in South Sinai, with a total cost of EGP 40 million.
The free zone area will span across one million square meters, according to the governor of South Sinai, Khaled Fouda.
Needed approvals has been obtained from the cabinet, with revenues forecasted near $1 billion, the governor noted.
The project is expected to cover its costs in 10 years whilst providing working opportunities to nearly 14,000 Egyptians, besides other indirect created jobs in the market.
