Arab Finance: The General Authority for Suez Canal Economic Zone (SCZONE) signed a usufruct agreement with the industrial developer Main Development Company (MDC) to develop ready-to-use factories and buildings in the Qantara West Industrial Zone for immediate operation by investors, the zone stated on December 22nd.

With a total investment of EGP 1 billion, the project will be developed on a total area of 200,000 square meters over 36 months.

Development will be carried out in two phases, each spanning 100,000 square meters, with an investment cost of around EGP 500 million per phase.

Each phase is expected to take 18 months to complete.

The signing was witnessed by the Chairman of SCZONE Waleid Gamal El-Dien, at the authority's headquarters in the New Capital.

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