Arab Finance: The General Authority for the Suez Canal Economic Zone (SCZONE) signed a $2 million (EGP 104 million) agreement with the Turkish-Egyptian alliance SAI HYDRAULIC to establish a trailer manufacturing project in the Ain Sokhna Integrated Industrial Zone, as per a statement.

Located within the industrial developer area operated by Main Development Company (MDC), the project spans 12,000 square meters.

The project is expected to create around 150 direct jobs, with production capacity projected to reach 100,000 tons annually once operations begin in early 2027.

On the sidelines of the signing, SCZONE Chairman Waleid Gamal El-Dein said the SCZONE is targeting companies that specialize in advanced technologies to support the localization of equipment and machinery manufacturing for industrial and infrastructure projects.

He noted that such investments are expected to strengthen both local and regional markets while supporting a qualitative increase in Egyptian exports to global markets, particularly in priority sectors under the authority’s strategy.

He added that the zone is working to enhance the investment climate through the digital transformation of its one-stop-shop services and by leveraging its competitive advantages. These include its strategic location with access to seaports, integrated industrial zones that bring production closer to target markets, and free trade agreements that provide access to more than two billion consumers worldwide.