A group of Arab investors have forwarded a request to build steel and iron mill in Swiss province east of Egyptian capital Cairo by total investments amounted to EGP 4 billion allocated for exporting and local market.

Sources revealed that the investors are Kuwaitis and Emiratis along with an Egyptian partner that these investors have pledged to allocate a part of the mill production for local market in Egypt but to be sold in cost price only moreover offering a free share for the projected housing enterprises on Swiss land.

According to the official news agency, that the feasibility study showed that the mill will create 2000 job vacancies in its Phase I and this figure will double as soon as all phases are completed.

Mr Sherif Aljamal the Egyptian partner clarified that Arab investors among which is one of the Kuwaiti governmental funds will have the largest share in the project with total investments amounted to EGP 3 billion.

He said that another request has been forwarded to Mr Mohamed Abd Almon'em Hashim Swiss governor General. to allocate a land to build 10 thousands developed residential units in the frame of an integrated residential project half of these units will be for limited income youth and the other half will be for Swiss sons who works for oil companies, northern gulf and free jobs people who are able to pay much higher installments than the ones in supported units.

(Sourced from Alarabiya net)