- June 21, 2023
- Posted by: Ahmed Abed
- Category: 2023, EN
Within the framework of the promotional plan for The Suez Canal Economic Zone (SCZONE), the SCZONE delegation headed by Mr. Waleid Gamal El Dien and the accompanying delegation of industrial developers including Eng. Amr El-Batriq, CEO of Orascom Industrial parks, Eng. Mohamed El-Kammah, CEO of El Sewedy Industrial Development Company, and Mr. Diaa Rushdi, Director of International Business Development at East Port Said Development Company. The delegation held extensive meetings and conferences in the Indian capital, Delhi, with several Indian companies to discuss means of cooperation in industrial sectors of common interest by both sides.
The meetings began with several companies operating in the fields of new energy, where the delegation met Mr. Sandeep Kashyap, Chief Operating Officer of the Indian company ACME, which signed a memorandum of understanding with SCZONE regarding the production of green fuel last August, as the project is being built on an area of 4.5 million square meters in Sokhna, with a total production volume of the project amounting to 2.2 million tons of green hydrogen annually, and the productivity of the pilot phase are 100000 tons annually, bringing the production capacity in the actual first phase of the project to 2.1 million tons annually, with investments of about $12 billion. In this context, the two sides signed a framework agreement for the project to implement the construction phases of the project at the beginning of 2024.
The delegation also met with Mr. Harshit Gupta, Head – Business Development (B2B) of Sterlite Power Transmission Limited, which specializes in the field of infrastructure for power transmission and distribution as well as the establishment of networks for transmission and distribution of electricity. The Indian company representatives expressed a desire to invest within the industrial zone in Sokhna and The objective of discussion was to explore business opportunities to invest on BOOT model in Transmission sector
in Egypt power sector and SCZONE.
On the other hand, Mr. Vellamvelly Muraleedharan, State Minister for Foreign Affairs, received the chairman of SCZONE, Mr. Wael Hamed, Ambassador of the Arab Republic of Egypt to India, and the accompanying delegation, to discuss aspects of cooperation between the two sides.
“The cooperation between Indian companies and SCZONE represents a common interest in light of the close economic relations between the two countries, in addition to the great support and confirmation of the political leadership of the two countries in strengthening the economic bonds, as well as a working to increase Indian investments in Egypt.” Mr. Waleid Gamal El- Dien stated
For his part, the state minister for Foreign Affairs stressed the good relations between the two countries, especially Potential investment opportunities in diverse areas such as renewable energy and infrastructure.
The delegation completed its extensive meetings during its promotional tour, with Mr. Siddharth Malik, Chairman of the Jindal Steel & Power Group for Iron, Steel, and Energy, where it was a fruitful meeting included the group’s desire to establish an industrial complex for iron and steel with a production capacity of 5 million tons per year, which is entire will be exported to foreign markets. The project will be located within SCZONE in two phases, on an area ranging from 5 to 7 million square meters inside Sokhna industrial zone. The project aims for Green Steel production and another project for the production of green energy and hydrogen supplies.
The delegation also met, Mr. Krishna Dushyant, Chairman of the Board of Directors of Platinum Industries, which is one of the leading companies in the manufacture of additives and oils needed for the PVC and CPVC industries. The company wants to establish a project within the industrial developer in Sokhna in two phases, each with an area of 10,000 square meters, with expected investments of $10 million, as the company aims to export 70% of its products abroad and 30% to the local market.
On the other hand, Mr.Waleid Gamal Al-Dien met Mr. Bala Subramanian, the regional president of the Shapoorji Pallonji Group, which works in the development of industrial zones, construction, infrastructure, real estate, and various other fields. The group showed interest in investing in several areas within SCZONE, and the regional president of the group presented available Opportunities to cooperate with SCZONE, most notably, the establishment of water desalination plants to serve the existing projects and the service of green bunkering, and the partnership in the development of an industrial zone that may include an industrial complex for Indian investments.
The delegation also met Mr. PS Jayaraman, President of TCI Sanmar Chemicals, in the presence of Mr. Mostafa Sheikhoun, Minister Plenipotentiary for Trade, and members of the Egyptian Embassy in the Indian capital, to review SCZONE’s efforts in localizing petrochemical industries and discuss cooperation with TCI Sanmar inside Egypt, most notably the works in West Port Said Port, where the company wants to expand its activities.
SCZONE delegation also met Mr. Sandeep Dhiman, General Manager of Sonalika International Tractors for the production of tractors and heavy transport supplies, as the company has a production capacity of one million tractors annually, and it has many branches in several African countries. The company shows interest in investing within SCZONE to export its products to regional markets. Mr. Sandeep Dhiman also stressed the importance of being present and dealing with the Egyptian market, which is considered one of the largest consumer markets and the main access point for about 2 billion consumers globally, so the company needs a presence in East Port Said for exporting products and goods to European markets.
