Egypt’s SCZONE, India’s Willow Ferro ink $25m deal for new metal plant

Egypt’s Suez Canal Economic Zone (SCZONE) signed a $25 million agreement with India-based Willow Ferro to establish a metal industries project in the East Ismailia industrial zone, also known as Tech. Valley, the Cabinet said in a statement on Tuesday.

The 40,000-square-metre facility will focus on producing ferro-silicon and ferro-chrome, with an expected annual output of 36,000 tons of silicon manganese products. The project is set to generate 120 direct jobs.

The agreement marks the third confirmed metals and construction materials project within Tech. Valley, bringing total investments in the zone to $42 million and job creation to 770 across 135,000 square metres. Additional project signings are anticipated in the near term.

SCZONE oversees key logistics infrastructure in the region, including the ports of East Port Said, Arish, and El-Tor, as well as two major industrial hubs in East Port Said and Ismailia.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser