El Montazah Company for Tourism and Investment has announced plans to build LE1.2 billion tourist projects in Alexandria and the North Coast.
Mohamed Rafaat Abdel Motaal, the company’s chairperson, said Thursday that his company will build two new hotels and a recreation center.
The government-owned company will also undertake a project to construct a tourism center on a surface area of 1400 feddans, to be completed by 2014.
According to government statistics, El Montazah Company made a net profit of LE98.7 million last year, up from LE78.8 million in 2008.
Translated form the Arabic Edition.
