Polaris Parks to Provide 25,000 Jobs in New Capital

An industrial zone to be established by Polaris parks in the New Administrative Capital is expected to include approximately 500 factories and provide job opportunities for 25,000 people.

On Wednesday, Tunç Ozkan, Chairman of the Board of Directors of Polaris and General Manager of the company Osman Arıkan, visited the Turkish Ambassador to Cairo Salih Mutlu Şen on Wednesday. 

Polaris, which has a Turkish management with Egyptian partners, continues its work and meetings to establish two new industrial zones in the New Administrative Capital and in 6th of October City.

The visit addressed the success of the industrial zones that the company has already established and operated.

It was explained that the current industrial zones are 99% full, as the company is currently establishing and operating industrial zones in 6th of October City and Sadat City. 

The industrial zone that Polaris will establish in the New Administrative Capital is expected to include approximately 500 factories and provide job opportunities for 25,000 people. 

The construction of the new industrial zone in 6th of October City is scheduled to begin very soon, and will provide the same services to investors.

The industrial zones established by Polaris include the entire infrastructure of electricity, gas, water, roads and security, in addition to the superstructure, i.e. ready-to-use factory buildings for small and medium-sized enterprises. 

Polaris builds ready-to-use buildings. This reflects Polaris Industrial Zones’ innovative and ready-to-service business model.

The total area of ​​the two industrial zones that will be established is 5.4 million square meters, and will provide at least 50,000 direct job opportunities, and with indirect job opportunities, this number may rise to 250,000 or more.

Şen pointed out that there is a great demand for ready-made industrial zones with ready infrastructure and superstructure in Egypt, explaining that small and medium-sized enterprises that want to come from Turkey and companies operating in the textile sector are paying great attention and requesting these industrial facilities equipped with services, ready electricity, water and gas services, road services and buildings.

Egyptian Minister of Investment and Foreign Trade Hassan Al-Khatib, whom Ambassador Şen recently met, expressed that they are aware of the demand for ready-to-operate factory buildings and that new steps will be taken in this regard. 

Ambassador Şen said that if these ready-made factory buildings are built for SMEs and those coming from Turkey, it will facilitate and accelerate new investments. ‎

He said during his meeting with the company's chairman that the service provided by Polaris Industrial Zones in this field is of great value as Polaris will soon open several ready and empty buildings in 6th of October City that it has completed for the use of small and medium-sized companies in the existing industrial zone.

At the company's invitation, the ambassador will attend the opening and it is likely that the Minister of Transport and Industry Kamel El-Wazir, will also attend the opening.

He added that the infrastructure and superstructure investments in the two industrial zones in the New Administrative Capital and 6th of October City are expected to be completed within two to three years, and the factories will be established within 5 to 10 years. Given the great need and demand for industrial zones for factories and factory buildings throughout Egypt, it is expected that they will be fully filled within 5 to 10 years and the company will start planning to establish new industrial zones. 

Polaris is currently continuing its contacts with the Egyptian authorities to establish another industrial zone next to Cairo.

Şen expressed his wishes that the Suez Canal Economic Zone would be considered an industrial zone by Turkish companies and Polaris. 

Şen stated that he would continue his consultations with the Suez Canal Authority and businessmen who have invested or are thinking of investing there. 

In the past months, Aroğlu Holding Company launched a new investment in the Suez Canal Economic Zone, where ready-made garments will be produced.

The ambassador said that Polaris company currently owns three industrial zones, two in 6th of October City and one in Sadat City, and their capacity is almost complete. Therefore, the new projects undertaken by Polaris Industrial Company depend on experience, financing and strong management. ‎

He continued his speech, saying, “As you remember, the agreement regarding the establishment of two new industrial zones by Polaris was signed between the General Manager of Polaris Industrial Zones Company, Osman Arikan, and Lieutenant General Kamel El-Wazir, Minister of Transport and Industry, in the presence of President Abdel Fattah El-Sisi and President Recep Tayyip Erdogan during President Abdel Fattah El-Sisi’s visit to Ankara. 

He added that “signing the establishment of the two industrial zones during this visit and in the Turkish presidential complex demonstrates the support and positive direction of the two governments towards these projects.”