CAIRO – 21 November 2024: The General Authority for the Suez Canal Economic Zone (SCZone) has partnered with Orascom Industrial Parks to sign a land usufruct agreement under a revenue-sharing model, spanning 3.3 km².
This ambitious project, with investments totaling LE 12.87 billion, aims to establish, market, and manage an integrated industrial complex in the Sokhna Industrial Zone.
Expected to generate over 30,000 job opportunities upon completion, the project represents a significant step in advancing Egypt’s industrial development. Walid Gamal El-Din, Chairman of SCZone, highlighted the partnership as a testament to the success of previous collaborations with industrial developers.
He noted that the initiative aligns with the vision of fostering public-private partnerships to create integrated industrial zones that attract both local and international investors.
The ultimate goal is to diversify Egypt’s production base and enhance export capabilities in key industrial and service sectors.
Moataz El-Demerdash, Chairman of Orascom Industrial Parks, emphasized that the agreement builds on the accomplishments of the first Sokhna Industrial Zone, expanding into a new industrial sector.
Leveraging more than 25 years of expertise, Orascom aims to drive sustainable economic growth and attract global investors to the region.
This new development also builds on Orascom’s successful investments across 10 km² in the Sokhna Industrial Zone.
The planned complex will feature comprehensive infrastructure, advanced facilities, and services to support a range of industries, including heavy and medium sectors, as well as ready-to-operate Plug & Play factories.
The initiative is a collaboration with Orascom Industrial Parks, a joint venture between Orascom Construction, which holds a 60.5 percent stake, and a consortium of financial partners and investors, further solidifying Sokhna’s role as a global hub for industry and logistics.
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