First Phase of City of Gold Project Implemented in NAC

Elhamy El-Kurdi, Advisor to the Egyptian Minister of Supply and Internal Trade, announced that they had started the construction of the first phase of the City of Gold, which would be established in the New Administrative Capital (NAC) on Ain Sokhna Road.

In press statements, he noted that the project is expected to be built on an area of 150 acres and would be completed within two years.

In a workshop held on the sidelines of the Nebu Expo for Gold & Jewelry 2022, Al-Kurdi explained that the first phase will be held on an area of 60 acres.

He pointed out that the City of Gold includes 400 workshops for the production of gold, 150 other educational workshops, and an educational industrial school, to be integrated with the technical school for gold and jewelery “Egypt Gold School” in Obour city.

Egypt currently produces over 15.8 million tons of gold from the Sukari mines, according to the minister, who noted that the figure is expected to further rise with the development of new projects.

The first gold refinery is being established in Egypt to purify gold ore at a cost of $100 million as an alternative to the refineries of Switzerland and Canada, Gamea said.

This comes amid efforts by the government to strengthen Egypt’s goldsmith industry and expand on exports in the sector.

The Nebu Expo for Gold & Jewelry 2022, held over three days, is organized by the General Federation of Chambers of Commerce, under the supervision of the ministries of Supply and Industry, with the aim of reviewing the most prominent developments in the gold industry.

Up to 30 exhibiting companies from the largest Egyptian companies in the production and designs of gold jewelry are participating in the exhibition, in order to present the latest Egyptian products on the international markets.