Ethiopia to grant Egypt one million sq.m of land

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29 October 2012 

An Egyptian media, Ahram Online reported today citing Egyptian Prime Minister Hisham Qandil that  the Ethiopian government has announced plans to grant Egypt one million square meters of land.

industrial zoneAhram Online stated that the land grant was for Egypt to “  establish an industrial zone with a view towards boosting trade and investment between Egypt and the states of the Nile Basin.”

Hatem Saleh, Egyptian minister of industry and foreign trade, said on Wednesday that the Ethiopian banking sector would finance between 50 and 70 per cent of  Egyptian investment projects in the country, the Ahram Online added. 

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