DP World to establish 10 companies, complexes in SCZone

CAIRO – 7 November 2017: DP World will establish 10 companies in the Suez Canal Economic Zone (SCZone) in addition to building industrial complexes in the first quarter of 2018, DP World Chairman Sultan Ahmed Bin Sulayem said Tuesday.

Speaking at the SCZone investments session in the World Youth Forum, Sulayem noted that they started promoting for investments in the zone; stressing his company’s desire to boost investments in the SCZone.

The session focused on promoting the SCZone and listing available opportunities and incentives for investors.

"The SCZone will soon become the most important trade and investment hub, expecting to create more than 400,000 job opportunities," Sulayem said.

East Port Said Company for Development Chairman Karim Samy Saeed also spoke at the same session, announcing that Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) will hold a conference in March 2018 to promote industrial growth in Egypt.

East Port Said company was founded in early 2016, with shareholders including the Armed Forces-affiliated National Service Projects Organization, Hassan Allam Holding and Samcrete Holding.

Sharing success stories, chairman of Polaris International Industrial Parks Mohamed Qasim Abdel Hay also gave a presentation on the company's industrial zone in the SCZone.

"We have 52 companies so far in our industrial zone in East Port Said," Abdel Hay added.

Polaris' industrial zone is deemed the first in the "second generation" of industrial zones, "as we have the authority to manage the area, unlike old zones in the 6th of October and the 10th of Ramadan," he said.

The industrial zone is developed by Polaris, ARDIC for Real Estate Development and Investment and SIAC Industrial Construction & Engineering Company.