SCZONE, Orascom ink EGP 12.87b Industrial Complex deal

By Aya El Sayed On Nov 21, 2024

The contract was signed by Dr. Mohamed Abdel Gawad, Vice Chairman of SCZONE for Investment and Promotion Affairs, and Mr. Moataz El-Demerdash, Chairman of Orascom Industrial Parks, and Eng. Amr El Batrik, CEO of Orascom Industrial Parks.

The General Authority of the Suez Canal Economic Zone (SCZone) signed on Thursday a land usufruct contract with Orascom Industrial Parks to develop a 3.3-square-kilometre industrial complex in the Sokhna Industrial Zone. The project, valued at 12.87 billion Egyptian pounds, aims to create over 30,000 jobs and attract both local and international investors.

The new industrial complex will focus on heavy and medium industries, as well as plug and play factories and service sectors. This aligns with SCZone’s strategy to promote public-private partnerships and stimulate economic growth.

The project builds on the success of the existing 10-square-kilometre Sokhna Industrial Zone and further strengthens SCZone’s position as a major industrial hub in Egypt.

Attribution: SCZONE

Subediting: Y.Yasser