Orascom Industrial Parks has announced a substantial investment of EGP 7 billion ($139 million) to develop a new industrial zone in Ain Sokhna. This strategic move, revealed by CEO Amr El Batrik during the 11th Akhbar El Youm Economic Conference, marks a decade-long commitment to bolstering Egypt’s industrial landscape.
Set to unfold over the next ten years, this ambitious project aims to attract complementary green industries and export-driven sectors, with a focus on green hydrogen technologies. The initiative underscores Egypt’s growing commitment to renewable energy and sustainable industrial practices, aligning with the global shift towards eco-friendly solutions.
Beginning in the second quarter of 2024, Orascom will open these industrial zones to investors, providing a platform for both local and international enterprises. The expansive area, covering 10 million square meters, is projected to host factories with a collective investment of approximately $12 billion. This development is expected to significantly boost export capabilities, particularly targeting European and Arab markets.
The investment is poised to transform Ain Sokhna into a pivotal industrial hub, enhancing Egypt’s competitiveness on a global scale. According to Mohamed El Sewedy, Head of the Federation of Egyptian Industries, “This initiative not only promises economic growth but positions Egypt as a leader in green technology manufacturing in the region.”
