Suez Canal Economic Zone Seals Five Agreements for $250 Million Worth of Projects

In a significant development, the Suez Canal Economic Zone (SCZone) of Egypt has formalized five framework agreements, collectively valued at approximately $250 million, as revealed by the Egyptian Cabinet.

Waleed Gamal El-Dien, the Chairman of SCZone, articulated that the zone’s involvement in feasibility studies for several projects is the initial phase towards the negotiation of 50 additional agreements.

The quintet of projects encompasses a $150 million ready-made clothes factory spanning 75,000 square meters, to be established by Eroglu Egypt. Additionally, there is a $15 million PET plastic recycling initiative over 10,000 square meters by a subsidiary of Youssef Allam Group. Jade Textile is set to embark on a $65 million textile and dyeing project covering an expansive 100,000 square meters. Orchidia Pharmaceutical Industries plans a EGP 1 billion pharmaceutical factory across 10,000 square meters. Lastly, El-Hamd Company is slated to execute a EGP 129 million wood industry project spanning 12,700 square meters.



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