SCZONE, MDC, TEDA Egypt ink $100 deal for joint project in Sokhna Industrial Zone
Updated 7/16/2025 1:57:00 PM
Arab Finance: The General Authority for Suez Canal Economic Zone (SCZONE), the Main Development Company (MDC), and TEDA Egypt inked a joint deal for a project in the Sokhna Industrial Zone, with a total investment of $100 million, according to a statement.
The signing aligns with TEDA Egypt's near completion of the development of the previously allocated 7,000 square meters, bringing the total allocated area to about 10,000 square meters.
The agreement covers transferring the usufruct rights for a 2,860-square-meter plot of land within the Sokhna Industrial Zone, which will contribute to attracting more diverse investments and creating integrated and sustainable industrial communities.
Prime Minister Mostafa Madbouly stressed the importance of this cooperation in accelerating industrial development within the SCZONE, highlighting its potential and capabilities to become one of the region's major manufacturing and logistics centers.
Madbouly noted that the state is working to foster partnerships with the local and foreign private sector to boost development and create job opportunities.
For his part, Waleid Gamal El-Dien, the Chairman of the SCZONE, said the deal marks a strategic step toward strengthening the development system within the Sokhna Integrated Industrial Zone.
It also backs the authority's efforts to maximize the investment value of industrial lands and make the most of the available infrastructure, Gamal El-Dien noted.
It is worth highlighting that the economic zone succeeded in attracting Chinese investments exceeding $4 billion over the past three years.
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