Prime Minister Moustafa Madbouli granted a license to the National Telecom Regulatory Authority (NTRA) to contribute LE 600 million to the capital of the Silicon Waha for technological zones.
The license is governed by the law regulating work of joint stock companies, limited by shares companies, limited liability companies and one person companies, the cabinet's media office said in a press release.
Silicon Waha is a leading joint stock company aiming at creating a series of specialized business and technology parks across second-tier cities in Egyptian governorates.
The Ministry of Communications and IT, the Information Technology Industry Development Agency (ITIDA) and New Urban Communities Authority are stakeholders in the company.
