United Arab Emirates to launch spacecraft to moon in 2024    UN says Libyan rivals have restarted military talks in Egypt    Liverpool coach Klopp bristles at Keane's 'sloppy' criticism after Arsenal win    Thiago to miss Liverpool's next two games: Klopp    Genoa say 14 team members and staff have tested positive for COVID-19    Amnesty Int'l halts India operations, citing gov't reprisals    Kenya extends COVID curfew for 2 months but reduces hours    Merkel says German coronavirus infections could hit 19,200 a day: Source    Morocco faces down COVID spread with tough rules    Ethiopian PM says Addis Ababa has 'no intention of harming' Egypt, Sudan with GERD    Egypt's Assiut, Sohag int'l airports receive first Saudi Airlines flights since resumption of air traffic    Egypt's central banks cuts interest rates by 50 bps    'It's important to show our ingenuity': Nigerian collector promotes local artistic heritage amidst Black Lives Matter    EgyptAir receives 11th Airbus A220-300 from Canada    3 policemen, 4 prisoners killed in Cairo jailbreak attempt    Last-minute bids    Wust El Balad band gives a concert at the Fountain theatre    Khan Almaghraby gallery group exhibition is a must go    Egyptian insurance companies' premiums 9.6% up in five months    Egypt's President Sisi names new head of anti-corruption watchdog    Egypt's c.bank offers 18 bln pounds T-bills on Sunday    EgyptAir offering discounts for some international flights    Egypt records 212 new coronavirus cases, 14 deaths on Saturday    Egypt to require PCR coronavirus tests for airport travelers    Egypt sends 125 tonnes of glass by sea to Beirut    Legend Messi officially wants to leave Barcelona, hands transfer request    Global smartphone sales drop 20% in Q2, yet Apple's iPhone sales steady    Sisi: Egypt keen on establishing development projects with Iraq, Jordan    Egyptian megastar Amr Diab releases new hit music video    Making of Harry Potter will be available for fans at new park in Tokyo    Egypt's Senate elections official results to be announced Wednesday    Netflix Egypt is bringing megastar Amr Diab back with a new original    Egypt reopens Rafah border crossing for first time since April    Egypt's senate elections 2020 trending on social media in few days    African Champions League final will be played on Oct. 16-17, CAF says    No room to delay Egyptian Premier League games – EFA's board member    The Facebook Preacher's Search for Fame, and Egypt's Economy    Egypt calls on UNSC to address oil spill risks off Yemen coast    Egypt economically strong in face of COVID-19, reforms ongoing: International Cooperation Minister    Arafa Holding reports $144,000 COVID-19-related losses in April    Egypt's efforts in Libya to activate free will of Libyan people: Al-Sisi    Hyksos campaigns were internal takeover, not foreign invaders: study    COVID-19 affects Egypt sporting clubs    COVID-19 will soon turn to seasonal like swine flu: Presidential Health Advisor    ‘Egypt's Support' coalition convenes to discuss its Senate election list    Robbery attempt leads to discovery of Ptolemaic monuments in Qena    Flouting international guidance, Ethiopia unilaterally starts filling its Nile dam    Zaha speaks out after online racial abuse    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Marketing the Canal Zone
Published in Al-Ahram Weekly on 16 - 03 - 2017

The Suez Canal Economic Zone (SCZone) is preparing to receive new investments. Ahmed Darwish, chairman of the SCZone, announced this week that contracts had been signed for the establishment of a Pharmaceutical and Car City in the zone.

The Pharmaceutical City will be the biggest in Africa and the Middle East, Darwish said at a press conference at SCZone headquarters in Ain Al-Sokhna. It is to be built on four million square metres of land in partnership with a Spanish industrial developer and European funding.

A Russian industrial city will also set up shop in the SCZone. “The final phase of the negotiations with the Russian partner has been reached, but the company that will run the Russian industrial area has not been determined,” Darwish said.
He mentioned some of the other infrastructure developments that are taking place in Ain Al-Sokhna and East Port Said, saying that they would lead to more investment in the zone that he described as “the diamond of the Mediterranean Sea”.
Darwish made his remarks at a press conference held after a visit to the SCZone Development Company (Egypt TEDA) located in the North-West Special Economic Zone of the Gulf of Suez adjacent to the Suez Canal.
Suez Canal Economic Zone
According to Ahmed Abo Elhamd, the company's investment supervisor, there are 32 productive enterprises in the zone worth $900 million in investment. More than 2,000 job opportunities have been provided, and there are 30 support service agencies to provide banking, insurance, shipping, customs clearance, advertising and other services for the enterprises settled in the zone.

A 6km extension to the zone includes promising investment opportunities in IT products, machine equipment, light industry, electrical appliances and the automobile and chemical industries, Abo Elhamd said.

The zone already houses Jushi Egypt, a $520 million investment that is the biggest industrial base for fibreglass in Africa with an output of 200,000 tons. “Products from the facility are mainly distributed in European markets, as well as in Turkey, the Middle East, North Africa and the local market in Egypt,” said Karim Al-Kholi, deputy manager of the company, who added that the third phase of the project planned to bring production up to 40,000 tons in 2017.

The SCZone was declared a “special economic zone” in August 2015 under Law 83/2002 on economic zones of special nature.


Clic here to read the story from its source.