Egypt’s SCZONE signs $215mln seal with Polyserve for Sokhna chemicals project

Egypt’s Suez Canal Economic Zone Authority (SCZONE) signed a contract with Polyserve for Fertilizers & Chemicals on Wednesday to establish a new chemicals project in the integrated industrial area of El-Sokhna. The project will cover 650,000 square metres with an investment of $215 million, 40 per cent of which is self-financed, and is expected to produce 3.5 million tonnes annually while creating around 500 direct jobs.

The signing was witnessed by Prime Minister Moustafa Madbouly, Minister of Petroleum, Karim Badawi, and SCZONE Chairman Walid Gamal El-Din.

Poly Surf is an Egyptian company with diversified operations, including mining, fertilizer production, and chemicals. Its activities cover basic chemicals, nitrogen compounds and fertilisers, extraction of stones, sand, and kaolin, chemical minerals, and production of sulphuric and phosphoric acids as well as specialised and compound fertilisers.

Following the signing, Prime Minister Madbouly highlighted that localising such industries supports the national economy by reducing import bills and enhancing Egyptian exports. He noted that the SCZONE provides a business-friendly environment for investors and emphasised the government’s commitment to attracting high value-added private sector projects, which deepen local manufacturing content and enhance the competitiveness of Egyptian products in regional markets.

Attribution: Amwal Al Ghad English