With investments of EGP100 million..SCZONE ‘s chairman Witnessed the Signing ceremony of the “Pearl group” Project for Polyurethane production

Mr. Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), witnessed the signing ceremony for the “Pearl Group” project to produce polyurethane, at SCZONE’s headquarters in the Administrative Capital. The “Pearl Group” project to produce polyurethane will be located in the Sokhna industrial zone, within the scope of the industrial developer, the Main Development Company “MDC”, on an area of 5,000 square meters, with initial investments of EGP 100 million, and 45 job opportunities. This is in preparation for the second phase, which will witness more investments and job opportunities. The project will start production during the first quarter of 2025, with a targeted production capacity of 20,000 tons of polyurethane. The contract was signed by Major General Waleid Youssef, Managing Director of the Main Development Company, and Mr. Martin Kruczinna, CEO of Pearl Polyurethane North Africa.

“SCZONE offers diverse direct and indirect financial incentives, exemptions for exported goods, the export support program, the strategic location and integration between industrial zones and seaports. All these factors provide a favorable environment for investment for Pearl Group, especially since the company aims to reach the markets of African countries and Southern European countries.” Mr. Waleid Gamal El-Dien, chairman of SCZONE declared.

“SCZONE establishes integrated industrial complexes through its targeted sectors, to support global supply chains, as various recent circumstances have confirmed the need to diversify production sites and their presence near consumer markets, especially in locations that enjoy the availability of trained labor and the energy at competitive prices such as SCZONE. The polyurethane industry is one of the pivotal industries that feed various industries and products required in the local and regional market.” Mr. Waleid Gamal El-Dien, chairman of SCZONE added

It is worth noting that the Pearl Group is a company that provides polyurethane (PU) insulation solutions and other applications based on polyurethane and has more than 35 years of experience in the Middle East markets. It has investments in Saudi Arabia, UAE, and India. The group chose to establish its project within SCZONE as it represents an ideal base to reach its targeted markets.