Arab Finance: Waleid Gamal El-Dien, Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE), witnessed the signing of a contract with Capital Company for Factory Management and Development to establish and invest in an industrial project in the West Qantara Zone, according to a statement.

With an EGP 2.4 billion investment, the project will cover approximately 150,000 square meters and involve the development of a prefabricated building complex and ready-made factory models for industrial use and storage activities. The facilities will be offered for lease, providing investors with ready-to-operate industrial and storage spaces.

On the sidelines of the signing ceremony, Gamal El-Dien affirmed that SCZONE is working to accelerate development across its ports and industrial zones, particularly the West Qantara Industrial Zone.

He added that cooperation with the national private sector supports the authority’s strategy to expand investment opportunities and attract new industrial projects.

The West Qantara Zone has attracted 54 projects from investors of nine nationalities, with combined investments of around $1.54 billion. The projects cover a total area of 3.57 million square meters and are expected to create nearly 68,915 direct jobs.

The investments span industrial, logistics, and service activities, with textiles and ready-made garments accounting for 43 projects. Other key sectors include packaging and travel bags, food processing, logistics, and the manufacturing of poultry farming equipment and supplies.