The General Authority for Suez Canal Economic Zone (SCZONE), the Main Development Company (MDC), and TEDA Egypt have formally inked a $100 million investment agreement aimed at expanding the Sokhna Industrial Zone. This collaboration highlights Egypt’s commitment to evolving as a premier manufacturing and logistics hub in the region.
The agreement was ceremoniously signed at the New Alamein Government Headquarters, witnessed by Prime Minister Mostafa Madbouly, Vice Prime Minister for Industrial Development, and Minister of Industry and Transport Kamel Al-Wazir. The deal involves transferring usufruct rights for a 2,860-square-meter plot, enhancing the industrial zone’s capacity to attract diverse investments and establish sustainable industrial communities.
Prime Minister Madbouly underscored the significance of this cooperation in accelerating industrial development within the SCZONE. “This partnership demonstrates our dedication to fostering local and foreign private sector collaboration, driving economic growth, and generating job opportunities,” Madbouly emphasized.
TEDA Egypt’s rapid progress on previously allocated land within the Ain Sokhna industrial zone is nearly complete, expanding its developed area to approximately 10 square kilometers. This new contract marks a pivotal step in SCZONE’s strategy to optimize industrial land use through collaborations with seasoned developers.
According to a statement released, the developer will spearhead new infrastructure projects under the agreement, drawing in a wider array of industrial projects. This aligns with SCZONE’s broader vision of establishing integrated, sustainable industrial communities, thereby reinforcing its position as a critical player in regional economic development.
