Arab Finance: Egypt-Saudi joint venture Techno Bond will establish an industrial complex to produce cladding panels and aluminum rolls in the Suez Canal Economic Zone (SCZONE), with targeted investments of $50 million, as per a statement.
The complex will be built on 25,000 square meters within the Sokhna Industrial Zone under industrial developer Main Development Company (MDC), with initial investments of $18 million expected to rise to $50 million.
The first phase is expected to create about 200 jobs, while operations and production are scheduled to begin by the end of 2027.
The complex will use advanced technologies to produce different types of cladding panels and aluminum rolls in accordance with international quality standards. Its products will serve several industries, including businesses supplying the construction sector.
The contract was signed by MDC Managing Director Walid Youssef and Techno Bond founders.
SCZONE Chairman Moustafa Shaikhon said the Techno Bond project would expand SCZONE’s industrial base and support its strategy of attracting projects that deepen local manufacturing, localize industrial technology, increase the added value of locally manufactured products, and reduce dependence on imports.
He added that the project aims to transfer and localize technologies used in the sector, support construction-related industries, and strengthen the competitiveness of Egyptian products in local and regional markets.
The complex is also expected to create export opportunities in Arab and African markets.
Shaikhon said SCZONE’s competitive advantages support the establishment and expansion of industrial projects, adding that the authority would provide investors with the necessary assistance to accelerate project implementation and the start of production.
The Techno Bond complex is being developed under an initiative coordinated with the Administrative Control Authority (ACA) to support the expansion of industrial companies and institutions with export capabilities within SCZONE.
The initiative aims to help industrial investors expand their operations and increase their production and export capacity.
