SCZone signs $12M contract for building materials project in Sinai
Updated 2/27/2025 7:26:00 AM
Arab Finance: The General Authority of the Suez Canal Economic Zone (SCZone) has signed a usufruct contract with Industrial House for Building Materials to establish a new factory at the Technology Valley area in East Ismailia, Sinai, as per a statement.
The project, valued at $12 million, will cover 50,000 square meters and provide 500 direct job opportunities.
The factory will feature three production lines for gypsum board, plastered gypsum, and plastic packaging bags.
SCZone Chairman Waleid Gamal El-Dien highlighted that the agreement reflects more than two and a half years of promotional efforts to attract investments across SCZone’s industrial zones and ports.
He noted that SCZone has successfully secured two projects in the metal industries and building materials sectors, with a combined investment of $17 million, spanning 85,000 square meters and creating 650 job opportunities.
The developments align with SCZone’s strategy to enhance industrial expansion through world-class infrastructure, digitalized investor services, and streamlined procedures.
The new factory in East Ismailia will produce gypsum boards with an annual capacity of 4 million square meters once fully operated, gypsum plaster reaching 900,000 tons per year, and 60 million packaging bags, with the potential for expansion.
Over 80% of production is earmarked for export, leveraging the integration between the Technology Valley area and East Port Said Port.
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