CAIRO – 24 December 2024: Chairman of Suez Canal Economic Zone Authority (SCZone), Walid Gamal El-Din, announced that the authority has signed 30 memoranda of understanding (MoUs), 14 of which are active, during a meeting with Prime Minister, Mostafa Madbouly.
Among these, 12 framework agreements have been finalized, targeting an annual production capacity of 18 million tons and attracting $64 billion in investments. Another framework agreement is underway, expected to produce 1.3 million tons annually with $7.5 billion in investments.
El-Din highlighted the SCZone’s vast potential, describing its 455 km² area that supports 100,000 direct and indirect jobs.
He provided updates on key infrastructure projects, such as the Ain Sokhna desalination plant, which will deliver 1 million cubic meters of water daily across four phases.
The first phase, with a capacity of 250,000 cubic meters per day, is scheduled for completion in mid-2026.
Other projects include the Ain Sokhna logistics corridor, set to launch operations in Q4 2026, a liquid cargo terminal, a 1.5 km² tank farm project, and a gas network expansion.
Strategically located near the Suez Canal, SCZone offers unparalleled advantages for trade and investment.
The Suez Canal facilitates 12 percent of global trade, 10% of seaborne goods, and accommodates 26,000 ships annually.
The zone features six key ports, five major port operators, four industrial zones, 14 industrial developers, and 400 operational facilities, making it a leading global trade hub.
Prime Minister Madbouly emphasized SCZone’s critical role in global commerce, supported by its prime location and numerous investment incentives.
The zone is particularly focused on green hydrogen production, offering opportunities in infrastructure development and related industries, such as ship refueling projects.
SCZone is also working to localize the production of electrolyzer components, wind turbines, and solar panels, further solidifying its position in the renewable energy sector.
El-Din also outlined other promising sectors within SCZone, including electric vehicle and battery production, pharmaceuticals, building materials, textiles, and tire manufacturing.
These industries, combined with the zone’s strategic advantages, reinforce SCZone’s reputation as a prime investment destination and a global trade powerhouse.
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