SCZone to develop 22M sq. metres in Egypt’s Ain Sokhna

The Egyptian Authority for the Suez Canal Economic Zone (SCZone) signed contracts to develop 22 million square metres in Ain Sokhna during the last eleven months.

Chairman Ahmed Darwish stated Saturday that SCZone’s strategy targets making the economic zone among the most seven attractive zones in the world for investments by 2035.

He added that the economic zone includes two comprehensive areas, a port, logistic and industrial zones, in addition to housing area.

The total volume of the signed contracts is higher than of those inked from 2003 until 2015, the official pointed put, clarifying that SCZone targets attracting new investments to medium and labor intensive industries.

Darwish pointed out that the authority received a number of offers to establish steel plants in Ain Sokhna.

The SCZone is set to sign the first contract with industrial developers in east Port Said next December, the chairman said.