Egypt's Suez Canal Economic Zone (SCZONE) on Monday signed two agreements with an Egyptian-Turkish consortium to set up customs-bonded container yards in West Qantara and Sokhna with investments worth $4.2 million, the authority said in a statement. The consortium, made up of the Arab Organisation for Industrialisation (AOI), United Egy Group, Türkiye's Sigma Logistics & Containers and Logi Trade, will establish a joint venture called SIGMA Egypt to manage the facilities. The projects will span 100,000 square metres — split equally between West Qantara and Sokhna — and are expected to create about 100 direct jobs. The $4.2 million investment (203 million Egyptian pounds) will be fully self-financed. The West Qantara facility will mark the 33rd project in the area's industrial zone. "Through these projects, SCZONE aims to deliver value-added services for shipping lines and benefit from Egypt's advanced infrastructure of roads and ports. This will support investors in SCZONE's industrial zones, enhance product flows, and strengthen SCZONE's role in serving both transit trade and industrial projects" Waleid Gamal El-Dien said. "SCZONE is committed to reinforcing its position as a global hub for supply chains, manufacturing, and logistics services, in line with Egypt's national strategy to become a leading logistics platform connecting the world's continents." Attribution: Amwal Al Ghad English Subediting: Y.Yasser
