Latest news with #FotouhAlKuwait
Zawya
08-05-2025
- Business
- Zawya
Egypt: SCZone inks deal for Fotouh AlKuwait's $1.7mln project in Sokhna Industrial Zone
Arab Finance: The General Authority for the Suez Canal Economic Zone (SCZone) and the Main Development Company (MCD) signed an agreement for Fotouh AlKuwait Co's project to produce packaging materials, according to a statement. With investments of $1.7 million (EGP 86 million), the project will span an area of 10,000 square meters in the Sokhna Industrial Zone and will provide 30 job opportunities in its first phase. SCZone's Chairman Waleid Gamal El-Dein highlighted that this project represents a new step toward achieving the authority's goals of attracting valuable investments and implementing industrial projects that contribute to deepening local manufacturing and localizing supply chains in key sectors. He added that the location near Sokhna Port serves the project's objectives of exporting 90% of production. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
08-05-2025
- Business
- Zawya
Fotouh Al-Kuwait to build packaging factory in Egypt's Sokhna Industrial Zone
Egypt - Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), attended the signing ceremony for the Fotouh Al-Kuwait project, which will see the establishment of a packaging materials factory within the Sokhna Industrial Zone. The facility will span 10,000 square meters and involve an investment of $1.7m (approximately EGP 86m). The agreement was signed by Walid Yousef, Managing Director of the Main Development Company (MDC)—the primary developer within SCZONE—and Ahmed Fathi, Director of Fotouh Al-Kuwait. Gamal El-Din stated that the project aligns with SCZONE's strategy to attract value-added investments and implement industrial ventures that enhance local manufacturing capabilities and localize supply chains in strategic sectors. He emphasized that partnering with investors who bring both expertise and a developmental vision reinforces confidence in SCZONE's position as a leading regional hub for industry and logistics. He also noted that the factory's proximity to Sokhna Port will support its target of exporting 90% of its output. SCZONE, he added, continues to strengthen its attractiveness to investors through modern infrastructure, tailored incentives, and integration with Egypt's evolving transportation and port systems. Fotouh Al-Kuwait International, an Egyptian-Kuwaiti joint venture with over 18 years of experience in consumer goods distribution, is implementing the Sokhna project in partnership with a Chinese company specializing in packaging technologies. The factory is expected to create 30 jobs in its initial phase.
