Egypt to build industrial logistical zone in Damietta

Egypt’s Holding Co for Maritime and Land Transport and El Sewedy Electric have signed a memorandum of understanding (MoU) to establish, manage, operate, and develop an integrated industrial and logistics zone at the Port of Damietta.

Spanning 6 million square metres in two phases, the project aims to strengthening Egypt’s position as a regional hub for industrial and logistics services.

The agreement includes establishing a company to oversee the development of the industrial and logistics zone under the industrial developer model in New Damietta, west of Damietta. As part of this initiative, El Sewedy Industrial Development will be responsible for planning the industrial city, constructing networks and utilities, and developing infrastructure to attract investors across key sectors, including food industries, automotive, engineering, and petrochemicals.

The first investment within the industrial city will focus on constructing a submarine cable factory for El Sewedy Electric. With an investment of $500 million, the factory, spanning 500,000 square metres, will be the sixth of its kind globally and the first in the Middle East.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama