Investments worth USD 10 million (EGP 473.7 million)..SCZONE Chairman witnesses contract signing for “Al-Ahram Chemicals” project in Sokhna Industrial Zone

Mr. Waleid Gamal El-Dein, Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE), witnessed today the signing of a contract with Al-Ahram Chemicals and Resins to establish a new industrial complex for producing Formaldehyde and its derivatives in the Sokhna Industrial Zone, under the industrial developer Main Development Company (MDC).

With total investments of USD 10 million (EGP 473.7 million), the project will span 14,000 m², create around 150 direct jobs, and commence production in early 2027. It will produce 25,000 tons annually of Formaldehyde and Form Urea, along with other derivatives such as glue and melamine.

Mr. Waleid Gamal El-Dein emphasized that the project adds value to SCZONE’s chemical industries and supports its strategy to localize production, reduce imports, and boost the competitiveness of Egyptian products regionally and globally.