Arab Finance: The General Authority for the Suez Canal Economic Zone (SCZONE) has signed an agreement with Egyptian construction and metal industries company SteelCon to establish a new manufacturing facility in the East Port Said Industrial Zone, with investment estimated at $2 million, as per a statement.
Spanning a 5,388-square-meter plot within the industrial developer's area operated by East Port Said Development Company, the project will specialize in the production of construction products and related metal components. It is expected to create around 50 direct jobs and 20 indirect jobs.
The facility is designed to support industrial integration within the East Port Said Industrial Zone by supplying structural trusses and metal components to existing and future industrial projects. The project is expected to strengthen local supply chains and improve the operational efficiency of industrial developments across the zone.
Commenting on the agreement, SCZONE's Chairman Waleid Gamal El-Dien said that supporting industries and industrial integration are key elements in enhancing the competitiveness of the East Port Said Industrial Zone and attracting additional industrial investments.
He noted that the SteelCon project will contribute to expanding the region's industrial base by providing construction products and metal components required by a wide range of manufacturing activities.
He also added that the project will help strengthen the readiness of the zone's industrial infrastructure while improving the local availability of production inputs, which can support faster project implementation and industrial expansion.
Gamal El-Dien further stated that SCZONE's industrial development strategy extends beyond attracting new investments to building an integrated industrial ecosystem capable of sustaining long-term growth.
Furthermore, he explained that the authority is focused on diversifying industrial activities and strengthening connections between production sectors to increase value creation within the national economy and reinforce the competitiveness of the SCZONE as a regional and international industrial and investment hub.
