GV Developments and Amarenco Solarize Sign Agreement to Implement Clean Energy Systems in Tarboul City

GV Developments, the general developer of Tarboul City, the first green and smart industrial city development project in Egypt, announced that it has appointed the joint venture of Amarenco Solarize Egypt to implement clean energy and green hydrogen systems within its project in the Giza governorate.

Under this agreement, the French company will invest $255 million in phase I, which is currently being implemented. The agreement was signed by Sherif Hamouda, Founder and Chairman of the Board of Directors of GV Developments, and Yaseen Abdel Ghaffar, Founder and Managing Director of Solarize Egypt.

“We were keen on concluding this cooperation with 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,” said Sherif Hamouda.

This agreement is considered the company’s first investment in infrastructure for the Tarboul project. It also complements the efforts of GV Developments in supporting Egypt’s Vision 2030 and goes in line with the government’s direction to encourage industrial investment, national output, job opportunities, and encourage Egypt’s exports and reduction of imports.

Sherif Hamouda indicated that Tarboul City will be an attractive destination for industry and investment, and it is planned to be established in 13 phases over 16 years. The city will include efficient means for using resources and waste recycling systems to provide the highest quality of air and water. Also, Tarboul will rely on using smart manufacturing and the latest technology services to accommodate industrial production and logistics centers, in addition to residential, commercial, and social services.

The 109 million square meter industrial city project is located in Giza, 5 km from the Nile River, 30 km outside of Cairo, 109 km from Sokhna Port, and 160 km from the Red Sea. The city is also distinguished by its closeness to the main road network, including the Cairo – Assiut Road, the Regional Ring Road, Cairo Sokhna Road, Fayoum – October Road, and Al Karimat – Zafarana Road.

Additionally, Tarboul incubates several investment areas owing to its industrial activities, including Food Technology Valley, Automobile Axis, Engineering Axis, Medical Center, Textile and Clothing Center, Building Materials City, and Chemicals and Plastics City.

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