Arab Finance: Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone, witnessed a ceremony at the Authority’s headquarters in the Administrative Capital Signing a usufruct contract for the land under the revenue sharing system On an area of 3.3 km2, for the purpose of developing, marketing and managing an integrated industrial complex in the Sokhna Industrial Zone, with investments amounting to 12.87 billion pounds, between the General Authority for the Suez Canal Economic Zone and Orascom Industrial Zones Company.
In this context, Walid Gamal El Din, Chairman of the General Authority for the Suez Canal Economic Zone, explained that the development of this space reflects the development of the partnership between the Authority and its industrial developers, and is a result of existing success stories, in line with the vision based on partnership between the public and private sectors, through which we aim to create Integrated industrial zones provide an attractive 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 the Authority.
Walid Gamal El-Din also added that the Suez Canal Economy is striving with steady steps towards consolidating its position as one of the most important global centers for industry and logistics, and this goal will not be achieved except with the serious cooperation of industrial developers to complete what we have done in the field of infrastructure and facilities, in a way that keeps pace with the rapid global changes and meets the needs of… Both local and regional investors and markets.
For his part, Mr. Moataz Al-Demerdash, Chairman of the Board of Directors of Orascom Industrial Estates Company, confirmed that today’s event reflects an extension of the success of the development of the first Sokhna Industrial Zone and the expansion of a new industrial sector in the region, based on the company’s experience in this field, which exceeds 25 years. It also aims to This project will provide sustainable economic growth and attract more global investors, and it is expected to provide more than 30,000 job opportunities by the end of the project.
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