Walid Gamal El Din
The Suez Canal Economic Zone (SCZone) has signed a cooperation protocol with the Egyptian Commercial Representation Authority, aiming to strengthen collaboration and attract foreign direct investment to Egypt.
Covering 5,000 square meters, this new project represents an initial investment of EGP 100 million and is expected to create around 45 jobs.
The multi-year contract, funded by the EBRD, will enable Transfora—part of Agility Global—to implement a comprehensive enterprise management platform tailored for SCZone.
The main focus of this collaborative effort includes the provision of components for railway vehicles and the manufacturing of freight cars.
El-Din further highlighted that the projects will create over 25,000 direct and indirect job opportunities upon completion of their establishment and operation.
This deal marks HiTech Apparel's first venture in both the Middle East and Africa and is poised to create approximately 1,500 employment opportunities within the region
Spanning over an area of 270,000 square meters, the Xin Xing factory has an annual production capacity of 250 thousand tons
During the meeting, El-Din emphasized the significance of the economic zone as a national project aimed at supporting sustainable practices, contributing to Egypt's gross domestic product, generating employment opportunities, and establishing integrated industrial complexes with effective environmental systems
A key aspect of this project is its potential for job creation, with plans to employ 200 individuals.
The purpose of this project is to establish a factory specializing in the production of hot-rolled iron coils, to export 70 percent of its output.
During a meeting with the trade delegation from China's Zhejiang Province, SCZone Chairman Walid Gamal El-Din revealed these figures.
The main aim of the project is to produce 7.2 million pieces of jeans, to export 70 percent of the total production, and allocate 30 percent for the local market.
During a meeting of the authority's Board of Directors to discuss the financial and promotional positions for FY2023/2024 until the end of February 24, the chairman of SCZone, Walid Gamal El Din, made this announcement.
The factory will be responsible for designing, manufacturing, and installing grain storage silos, as well as their components and accessories.
Among these, 13 projects received final approval, while 24 projects received initial approval.
The factory sets its sights on exporting 60 percent of its production, aligning with Egypt's ambitious target of achieving $100 billion in exports, as highlighted by SCZONE Chairman, Walid Gamal El-Din.
The partnership seeks to enhance joint coordination between the two entities across multiple sectors, including industry, agriculture, mining, tourism, and services within their respective economic zones.
The factory, covering an expansive area of 26,000 square meters, is expected to create approximately 300 job opportunities
During the tour, the chairman engaged in 12 meetings with various companies and conducted on-site visits to prominent factories and businesses in four cities: Hangzhou, Suzhou, Hefei, and Beijing
Through this expansion, an area of 21,000 square meters will be added to Hengtong’s factory in the Sokhna Industrial Zone.
