Investors request to invest in 30M meters in East Port Said – SCZone

Egypt’s General Authority for Suez Canal Economic Zone (SCZone) received investment requests from companies, industrial developers, and investors to develop 30 million meters in East Port Said.

Speaking to Amwal Al Ghad Tuesday, Chairman Ahmed Darwish said that the authority  is working on good planning as well as executing the necessary infrastructure projects before issuing any new land plots, notably in East Port Said, despite the drop in global economic growth rates.

Darwish noted that SCZone has signed a Memorandum of Understanding (MoU) with the Singaporean Hyflux company to establish water desalination and power plants in Ain Sukhna with investment cost estimated at US$500 million.

The power plant is set to be established over 28 months and will operate by combined cycle gas turbine with the capacity of 457 MW, Darwish added.

Meanwhile, the desalination plant is designed to be built over 20 months to produce 150,000 cubic metres of water per day to provide region’s needs of energy until 2020.