Continuing its contributions in Sinai Development,SCZONE signs a contract to construct the Indian “Willow Ferro” Project for metal industries in “Technology Valley Zone” with $25m investments

Mr. Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), and Mr. Jasjit Singh, CEO of the Indian company “Willow Ferro”, signed this morning at SCZONE’s HQ in the Administrative Capital, a contract for the construction of the Indian “Willow Ferro” project for metal industries in East Ismailia “Technology Valley” Zone in Sinai. The project is located on an area of 40,000 square meters, with an investment of $ 25 million, and provides 120 direct job opportunities. The project’s production capacity is estimated at 36,000 tons per year of silicon-manganese products, with the plant starting in the initial operating periods with the production of ferro silicon and ferro chrome.

The project comes in implementing the directives of the political leadership to work on the development of Sinai, and within the framework of completing SCZONE’s continuous efforts in this regard. SCZONE owns in Sinai 3 ports: East Port Said, El-Arish and Al-Tur, and two promising industrial zones, East Port Said Zone, and Ismailia East, aka “Technology Valley” Zone. The signing ceremony was attended by some SCZONE executive leaders and the Indian company.

“SCZONE is paying increasing attention to attracting diversified global investments to the promising Ismailia East of Sinai. So far, SCZONE has succeeded in signing final contracts for the construction of 3 projects in the field of metal industries and building materials in the Technology Valley industrial zone. Its total investment, adding the project signed today, amounted to about $ 42 million, and these projects are located on a total area of 135,000 square meters, and provide 770 direct jobs. It is expected that more projects will be signed soon, and we appreciate the support and integration of efforts with state institutions represented in the establishment of the new city of Ismailia, where SCZONE’s investors expressed their interest in contracting units in this city to serve their projects. This is in line with SCZONE’s strategic vision to create integrated, sustainable industrial and service communities supported by all services, including facilities, housing units and others. These development efforts contribute to enabling SCZONE with all its economic tools, including 6 ports on the Mediterranean and Red Sea, and 4 industrial and logistical zones that are integrated between them to transform SCZONE into a preferred destination for global investment, in addition to being the world’s leading logistics center, especially in light of the efforts to digitize customs procedures and One-Stop-Shop services provided to investors.” SCZONE Chairman declared