Türkiye-Egypt JV signs $2 mln plant deal in Ain Sokhna

A Turkish-Egyptian joint venture has signed a $2 million agreement to establish a trailer manufacturing plant in Egypt’s Suez Canal Economic Zone (SCZONE), the authority said on Thursday.

The project, led by SAI Hydraulic, will be developed in an industrial zone operated by Main Development Company (MDC) in Ain Sokhna, covering 12,000 square metres, according to a statement.

The plant is expected to create around 150 direct jobs and reach an annual production capacity of 100,000 tons when it becomes operational in early 2027.

SCZONE Chairman Waleid Gamal El-Dien said the authority aims to attract companies with advanced industrial technologies to localise the production of equipment and machinery used in manufacturing and infrastructure projects.

These investments are expected to support domestic and regional markets while boosting exports, particularly in priority sectors identified under the zone’s strategy, he added.

The SCZONE is also working to improve the business climate through the digitalisation of investor services, including a one-stop-shop system, while leveraging its strategic location and access to global markets through trade agreements covering more than 2 billion consumers.

Attribution: Amwal Al Ghad English