Arab News: Egypt’s Suez Canal Economic Zone signed industrial agreements worth $13 million to develop mining, food and fertilizer projects in Ain Sokhna.
The deals cover two Egyptian-backed projects spanning a combined 32,000 sq. meters inside the industrial zone and are expected to create about 100 direct jobs, according to a statement from the authority.
The larger investment comes from Al-Atta Group, which will build a food and mining industries complex on 17,000 sq. meters with funding of 515 million Egyptian pounds ($11 million). The project includes processing and trading of metals and precious stones and is scheduled to begin production in 2027 with annual capacity of up to 10,000 tonnes.
Grass Egypt will invest 94 million Egyptian pounds to develop a fertilizer, soil conditioner and pesticide manufacturing facility on 15,000 sq. meters. The plant is expected to start operations in early 2027 with annual production capacity ranging between 5,000 and 7,000 tonnes.
Both projects fall under industrial developer Main Development Co., the zone’s development arm, and form part of a broader strategy to expand Ain Sokhna as a manufacturing and export hub.
SCZONE chairman Walid Gamal El-Din said the authority is accelerating industrial project implementation and offering investors integrated logistical and administrative support to boost competitiveness and localize supply chains.
“He emphasized the continued development of a diversified industrial base in Ain Sokhna and supporting the increase of Egyptian exports of food industries and agricultural products, reflecting the authority’s commitment to driving economic development and benefiting both investors and the community,” the statement added.
Gamal El-Din said the authority prioritizes projects that serve local market needs and boost exports, particularly in sectors linked to food security, supply chains, and agricultural and mining industries.
He added that the Grass Egypt project aligns with the authority’s strategy to support domestic investments in vital sectors, helping substitute imports of fertilizers and pesticides and reduce dependence on foreign markets by strengthening local supply chains.
The authority aims to provide investors with an integrated environment that includes administrative, logistical and technical support, along with customized service packages to speed up implementation and operations, the statement added.
He emphasized that such projects contribute to regional economic development and strengthen the role of the industrial and agricultural sectors in achieving Egypt’s national industrial vision, generating added value for investors and the wider community.
https://www.arabnews.com/node/2632755/business-economy
