East Port Said Development to receive 1.5 sqm in Suez canal axis

East Port Said Development company is set to receive 1.5 million metre square from the Suez Canal Economic Zone (SCZone) in order to develop Suez Canal axis, General Manager of Commercial Affairs, Ahmed Al Mufti.

He told Amwal Al Ghad that his company is gradually receiving the lands as the Suez Canal Economic Zone (SCZone) and  Armed Forces Engineering Authority is completing the soil treatment works.

East Port Said Development Company is responsible for the development, management, and marketing of the East Port Said Industrial Zone, which has a total area of ​​16 million sqm. It is assumed that the development process will take place in several phases.

“East Port Said Industrial Zone’s total space reaches about 1.5 million square metres as part of phase I during last year,” he said.

He continued that the company is currently working on developing and utilising about 500 thousand square metres through a group of contractors, indicating that the work will be completed at the end August in order to start allocating them to investors.

 Mufti pointed out that the company is looking to receive  4 million square meters by the end of the current year 2020.