GV Developments, Tarboul City’s master developer, announced that it had signed an agreement to invest $255 million in infrastructure and clean energy in the first phase with a joint venture between SolarizEgypt and Amarenco & Company.
Sherif Hamouda, the founder and chairperson of the Board of Directors, GV Developments and Yaseen Abdul Ghaffar, the Founder & Managing Director of Solariz Egypt, signed the agreement.
Hamouda stated that Tarboul City was the largest smart industrial community in Egypt and encompasses large, medium as well as small industrial projects.
“We were keen on concluding this cooperation with the giant French company Amarenco Solarize Egypt to ensure the implementation of the first phase of the city’s infrastructure with environmentally friendly specifications using clean technology and green hydrogen. We look forward to attracting more foreign investors to the city, and we have prepared a comprehensive marketing plan to ensure the promotion of the city in Egypt and abroad,” he added.
“Tarboul City spans over 109m sqm in Giza. It will also foster industry given its proximity to several investment areas, including Food Technology Valley, Automobile Axis, Engineering Axis, the Textile and Clothing Centre, the Building Materials City, and Chemicals and Plastics City.”
“Tarboul City will also be an attractive hub for industrial and investment purposes. It will be established in 13 phases over a period of 16 years, ensuring efficient use of resources, waste management and recycling, in addition to ensuring the highest quality of air and water,” he concluded.