SCZone partners with 5 private firms on several industrial projects

Updated 1/24/2024 7:01:00 AM

Arab Finance: The General Authority for the Suez Canal Economic Zone (SCZone) has inked five framework agreements with five private sector companies operating in various industrial sectors, as per a statement on January 23^rd.

This included a framework agreement between SCZone and Dayra for Waste Management and Recycling to establish a project for the recycling and manufacturing of polyethylene terephthalate (PET) and other types of recycled plastic suitable for use in food and other industries.

The agreement will see the allocation of 10,000 square meters of land within the zone at an investment cost exceeding $15 million.

A framework agreement was also signed between SCZone and Eroglu Egypt for Ready Made Garment to establish a ready-made clothing factory on a 75,000-square-meter area with an investment worth more than $150 million.

In addition, SCZone penned an agreement with Jade Textile to establish a $65 million project in the field of spinning and weaving spanning an area of 100,000 square meters.

It will be implemented over two projects, the first worth $30 million for ready-made garments, and the second worth $35 million for dyeing.

Also, SCZone partnered with Orchidia Pharmaceutical Industries to establish an EGP 1 billion pharmaceutical factory on an area of 10,000 square meters.

The fifth agreement was signed between the SCZone and Al Hamd Company for Import, Export, and Construction for the establishment of an industrial project with over EGP 129 million in investments on 12,700 square meters.

All industrial lands offered to investors are under the usufruct system.