Minister of Communications and Information Technology Yasser el Qady said on Wednesday that an Egyptian shareholding company would be set up to establish, develop and manage technological zones.

The company's capital amounts to one billion pounds, he added at a press conference following the cabinet meeting.

The company will establish six technological zones in a number of governorates in the coming period, Qady noted.

He stressed that such technological zones would contribute to providing job opportunities and spreading technology nationwide.