SCZone, Volkov Infra ink $5M deal for Ferro Genesis factory in Sinai
Updated 2/25/2025 2:05:00 PM
Arab Finance: The Suez Canal Economic Zone (SCZONE) has signed an agreement with India’s Volkov Infra Private Ltd to build the Ferro Genesis factory in East Ismailia’s Technology Valley, as per a statement.
The project, with an investment of $5 million, marks the company's first industrial venture in the region and is part of a larger plan to develop Sinai.
The factory will produce silico manganese and ferrosilicon using quartz and manganese ore, key components in high-quality steel production.
It will be built on 35,000 square meters and is expected to create 150 direct job opportunities.
The Ferro Genesis factory is one of three projects planned in the Technology Valley, with a total investment of $65 million (exceeding EGP 3 billion).
The remaining projects are expected to be signed in the coming months.
The Chairman of the SCZone Waleid Gamal El-Dien emphasized that the agreement reflects SCZone’s commitment to Sinai’s development in line with Egypt Vision 2030.
He noted that efforts over the past 30 months, including external promotional tours, have attracted industrial investments to the region.
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