Egypt’s Suez Canal Economic Zone (SCZone) inked on Monday a contract to establish a factory affiliated with Abdos Labtech, an Indian company, with a total investment of $30 million, according to an official statement.
The statement explained that the 55,000-square-metre plant will provide 350 job opportunities, as it is scheduled to be inaugurated during the second half of next year, 2024.
The deal supports attracting more Indian investments in the sectors targeted for settlement in El-Sokhna zone, SCZone’s head, Walid Gamal El-Din, said, adding SCZone presents aspects of support to all the companies in the different stages of the project.
It is worth noting that Abdos Labtech Private Limited is a manufacturer of high-quality plastic laboratory products. It implements prototypes, designs, develops, and manufactures high-quality plastic products, and has long-term relationships with major international companies such as Unilever and TATA.