Egypt’s Polaris to finalise phase I of Ain Sokhna’s industrial zone in 2Yrs

Egyptian Polaris International for Industrial Parks says it seeks to complete the construction works of the first phase of a new industrial zone in Suez Canal axis in Ain Sokhna within two years.

Spanning over 5.5 million square metres, the industrial zone’s first phase will be carried out in partnership with SIAC Holding Construction, Polaris’s vice chairman Basel Shoeira said on Wednesday.

Polaris is also looking to start executing the construction works within the current month, Shoeira further told Amwal Al Ghad.

“The General Authority for Suez Canal Economic Zone delivered the first phase of the lands plots, which is spanning over around one million square metres, last April,” he said.

Polaris International and SIAC had earlier finalised executing the technical and financial designs of the new industrial zone to start the construction works, Shoeira added.

“The alliance target attracting investments worth about $3.5 billion from the project (the industrial zone) through all its phases as well as providing 50,000 direct and indirect job opportunities,” he said.