Arab Finance: The General Authority for the Suez Canal Economic Zone (SCZONE) signed contracts worth $18 million (EGP 940 million) with Sakr Electronics to develop three industrial projects in the Ain Sokhna Integrated Industrial Zone, as per a statement.

The projects will be established within the industrial developer area operated by Main Development Company (MDC), covering a total area of 22,000 square meters.

The industrial complex will focus on the design and manufacturing of technologies for engineering and medical laboratories, as well as renewable energy complementary industries. It will also include an advanced industrial research laboratory to support technology transfer and localization in targeted export sectors.

The three projects are expected to create around 500 direct jobs and are scheduled to begin operations in early 2027. Combined, they aim to generate $20 million in annual technology exports.

The first project, Sakr for Educational and Training Technologies, will be developed over 8,000 square meters with investments of $6 million, creating 200 jobs and targeting $5 million in annual exports.

The second project, Sakr for Electronics and Electrical Power, will span 10,000 square meters with $7 million in investments, also creating 200 jobs and aiming for $10 million in annual export revenues.

Meanwhile, the third project, Sakr for Smart Agricultural Technologies, will be built on 4,000 square meters with $5 million in investments, creating 100 jobs and targeting $5 million in annual exports.