Latest news with #FerroGenesis
Zawya
4 days ago
- Business
- Zawya
Egypt: Indian companies launch $40mln projects in East Ismailia's Tech Valley
Arab Finance: Indian companies Ferro Genesis and Willow Ferro laid the foundation stone for new industrial projects in East Ismailia's Tech Valley, with an investment of $40 million for each's first phase, according to a statement. Ferro Genesis will develop a factory in two phases, along with a third phase awaiting approval, to produce silico-manganese and ferro-silicon from quartz and manganese ore. For the second project, Willow Ferro will establish a metallurgy plant in two phases, creating 120 direct job opportunities. The first phase will cover an area of 40,000 square meters, with investments totaling $25 million. The facility will have an annual production capacity of 36,000 tons of silicon manganese products. During its initial operating phases, the plant will begin manufacturing ferrosilicon and ferrochrome. Waleid Gamal El-Dien, the Chairman of the General Authority of the Suez Canal Economic Zone (SCZone), said these projects boost the authority's strategy to create integrated development communities supported by industry and logistics activities. They also align with the state's efforts to develop Sinai, which include the establishment of the New Ismailia City, to which the Tech Valley zone serves as an industrial backbone. Gamal El-Dien added that Tech Valley adds to the SCZone's economic tools, including four industrial zones and six seaports that link manufacturing and production areas with target markets. It is worth highlighting that the Ismailia Public Free Zone has attracted new investments worth $41.6 million from nine Chinese and Turkish companies. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (
Egypt Today
25-02-2025
- Business
- Egypt Today
SCZONE partners with India's FerroGenesis to launch $5M first industrial project in Wadi Al-Technologia
CAIRO – 25 February 2025: The Suez Canal Economic Zone (SCZONE) has signed an agreement with Indian company FerroGenesis to establish a new metal industry plant in Wadi Al-Technologia, located within the East Ismailia Industrial Zone. The $5 million investment will cover 35,000 square meters and is expected to create 150 direct jobs. The agreement was signed by Walid Gamal El-Din, Chairman of SCZONE, and Chinmay Kumar Sahu, Chairman of FerroGenesis. This factory marks the first industrial project in Wadi Al-Technologia and is part of a broader industrial expansion strategy in Sinai. This initiative is one of three planned projects by Volkov Infra Private Ltd in the metal industries sector, with total anticipated investments reaching $65 million. According to El-Din, SCZONE remains committed to developing Sinai, a region of strategic and historical importance to Egypt. The planned projects will generate direct and indirect employment opportunities, supporting the government's economic and social integration goals for the region. El-Din further revealed that two additional agreements with Volkov are expected to be signed in the coming months, reinforcing the growth of the metal industries sector in the zone. Spanning 72 square kilometers, Wadi Al-Technologia is designed to capitalize on natural resources like silica sand to build a high-tech industrial ecosystem. SCZONE envisions the area as a fully integrated industrial community, where investment, education, and research work in synergy to drive sustainable development.
