The Suez Canal Economic Zone (SCZONE) on Monday signed a 1 billion Egyptian pound agreement with industrial developer Main Development Company (MDC) to build ready-to-operate factories in the West Qantara Industrial Zone. The project will be developed on 200,000 square metres and implemented in two phases over 36 months, the SCZONE said in a statement. Each phase will cover 100,000 square metres, with investments of around 500 million pounds and a construction period of 18 months. SCZONE chairman Waleid Gamal El-Dein witnessed the signing of the usufruct agreement. The contract was signed by Moustafa Shaikhon, SCZONE Vice Chairman for Investment and Promotion, and MDC Managing Director Waleed Youssef. Gamal El-Dein said the project builds on MDC's successful development experience in Ain Sokhna and aligns with the authority's strategy to expand industrial activity across its zones, particularly in West Qantara. "Ready-built factories provide faster market entry and create greater opportunities for small and medium-sized industries," he said, noting strong investor demand in sectors such as textiles and garments, food processing and agro-industry, and medical textile supplies. Qantara West is positioned as a cost-competitive manufacturing base, benefiting from access to skilled labour and diverse energy sources, as Egypt seeks to deepen industrial capacity and draw new investment into export-oriented zones, Gamal El-Dein added. Attribution: Amwal Al Ghad English
