With investments amounting to EGP 13B SCZONE signed a land usufruct contract to develop 3.3 km2 with “Orascom Industrial Parks” in Sokhna

Mr. Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), witnessed this morning, at SCZONE’s headquarters in the Administrative Capital, the signing ceremony of a land usufruct contract with a revenue-sharing on an area of 3.3 km2 within SCZONE’s Sokhna Industrial Zone. The purpose of the contract is to develop, market, and manage an integrated industrial complex, with investments amounting to EGP12.87 B., between SCZONE and “Orascom Industrial Parks” Company. The contract was signed by Dr. Mohamed Abdel Gawad, Vice Chairman of SCZONE for Investment and Promotion Affairs, and Mr. Moataz El-Demerdash, Chairman of Orascom Industrial Parks, and Eng. Amr El Batrik, CEO of Orascom Industrial Parks.

“The development of this area reflects the growing partnership between the SCZONE and its industrial developers, and the result of existing success stories. It also comes in line with the vision based on the partnership between the public and private sectors, through which we aim to establish integrated industrial zones that provide a conducive environment for local and foreign investments, which contributes to diversifying the production base and increasing exports, especially in the industrial and service sectors targeted by SCZONE.” Mr. Waleid Gamal El Dien, Chairman of SCZONE, declared.

” SCZONE is taking steady steps towards fostering its position as one of the most important global hubs for industry and logistics. This goal will only be achieved through serious cooperation from industrial developers to complete what we have done in the infrastructure and utilities, in a manner that keeps pace with rapid global changes and meets the needs of investors and local and regional markets alike.” Mr. Waleid Gamal El Dien, Chairman of SCZONE, added

” Today’s event reflects an extension of the success of developing the first industrial Park in Sokhna and expanding a new industrial sector in the region, supported by our experience of more than 25 years. We once again aim for sustainable economic growth and attracting more global investors, and we expect to provide more than 30,000 job opportunities by the end of the project.” Mr. Moataz El-Demerdash, Chairman of Orascom Industrial Parks said.

It is worth noting that this extension ramifies the success between SCZONE and the industrial developer “Orascom Industrial Parks” in the Sokhna Industrial Zone, which is built on an area of 10 km2. The new complex will include all the facilities, services, and infrastructure required to establish various targeted industrial and service sectors (heavy industries—medium industries—Plug & Play factories). “Orascom Industrial Parks” is a joint venture between Orascom Construction (60.5%) and several financial companies and investors.