AID to build $120M turnkey factories for foreign investors in SCZone
Updated 9/23/2024 8:35:00 AM
Arab Finance: Alexandria for Industrial Development (AID), partially owned by Catalyst Capital Egypt, is in talks over establishing factories for foreign investors in the Suez Canal Economic Zone (SCZone), co-founder of Catalyst Partners Abdelaziz Abdel Nabi told Asharq Business.
The factories are set to be built under a turnkey system, with total investments of $120 million, Abdel Nabi revealed.
Abdel Nabi also said that a contract has been signed with a Chinese investor for building pipe factories on a 100,000-square-meter area, which is 25% of the total project size being developed by AID.
The project is expected to be completed within a year, with negotiations ongoing to develop the remaining 300,000 square meters.
In 2023, Catalyst Partners had acquired a 30% stake in AID from Alex Group via increasing AID’s capital by EGP 100 million through its investment fund.
Founded in 2013, Catalyst Partners Holding operates as an integrated investment bank, offering various non-banking financial services, including direct investment, investment banking, asset management, custody, fund services, financial leasing, factoring, and financial technology services.
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