Latest news with #GamalEl-Dein
Zawya
29-04-2025
- Business
- Zawya
Egypt: SCZone chairman lays foundation stone for $1.65bln Chinese Xinfeng's steel complex in Sokhna
Arab Finance: The General Authority for the Suez Canal Economic Zone's (SCZone) Chairman Waleid Gamal El-Dein has laid the foundation stone of Chinese Xinfeng's integrated industrial steel complex in Sokhna, with total investments of $1.65 billion, as per a statement. The project spans 3.75 million square meters and includes nine factories across two phases, in addition to two service centers: one for research and development (R&D) and the other for solid waste recycling. The initial phase comprises four factories producing automotive brake disc components, home appliance components, standard fasteners, and hot-rolled steel coils. The second phase includes five more factories focused on automotive aluminum-magnesium parts, steel structures, brake drums, construction machinery components, and cold-rolled steel coils. Gamal El-Dein said the project offers over 8,000 direct jobs and supports the localization of the automotive and home appliance industries. He added that the complex reflects investor confidence in the business climate and highlights the zone's strategic location, infrastructure upgrades, access to energy, and skilled labor. He also noted that around 140 factories are currently under construction in the SCZone. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
11-02-2025
- Business
- Zawya
Egypt: SCZone reports 40% YoY leap in profits in 6 months
Egypt - The Suez Canal Economic Zone's (SCZone) income statement for the period from July to December 2024 revealed a 40% increase in net profit compared to the same period in 2024, as per a statement. The statement included an analysis of revenues generated from ports and other sources, highlighting the growth in total revenues since the establishment of the Authority. During a recent meeting, the Chairman of the SCZone Waleid Gamal El-Dein reviewed the results of promotional efforts from 2022 to January 2025. He stated that final approvals were issued for 255 industrial, service, and logistics projects, along with seaport-related projects, with total investments amounting to approximately $8.081 billion. Gamal El-Dein detailed the scope of these projects and the job opportunities they are expected to create. He further noted that the total number of companies established in the SCZone reached 366. Over the past period, 68 operating licenses and 131 building licenses were issued. Gamal El-Dein also presented the status of 10 contracted seaport projects, with total investment costs of around $1.509 billion. He highlighted the diversity of foreign investments and the role of international companies operating in the region. The Chairman provided updates on the construction progress of 12 projects in Qantara West from July 2023 to January 2025. These projects, with a total investment cost of $511 million, are expected to create more than 21,000 job opportunities. He also discussed plans for East Ismailia industrial area (Tech. Valley), aiming to establish a new urban community driven by investment, education, and research in high-tech industries. Regarding renewable energy, Gamal El-Dein reviewed the status of ongoing and proposed projects supporting the state's strategy to localize the renewable energy industry. He highlighted the authority's initiative to expand industrial companies with export capabilities, aiming to localize industries, achieve industrial integration, and boost exports. In the area of digital transformation, Gamal El-Dein outlined efforts to position the SCZone as a global industrial and investment hub through advanced technology and infrastructure. This includes the "SCZoneTrade" platform, which integrates operations, and the "E-Tabadul" platform, a national digital platform for connecting local producers and suppliers. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
10-02-2025
- Business
- Zawya
Egypt's SCZONE signs contracts for smart truck yard at West Port Said
Egypt - The Suez Canal Economic Zone (SCZONE) has signed contracts to establish a new smart truck yard at West Port Said, aiming to ease congestion and boost operational efficiency. The project will leverage advanced technology to digitize and streamline truck movements in and out of the port, strengthening its position as a leading regional logistics hub. SCZONE Chairperson Waleid Gamal El-Dein and Port Said Governor Mohib Habashy Khalil signed the land lease contracts, while Gamal El-Dein also signed a partnership agreement with Egytrans CEO Abir Leheta and Nafith International's Chairperson Samir Mubarak. The 25-year strategic partnership will see the two companies develop and operate the smart truck yard at West Port Said with an investment of EGP 250m. Trial operations are set to begin in six months, with full operations expected within a year. Gamal El-Dein stated that the agreement aligns with SCZONE's strategic goals to modernize port infrastructure, simplify logistics processes, and enhance overall supply chain efficiency in Egypt. He emphasized that West Port Said is a vital component of trade, logistics, and service activities, and SCZONE is committed to its comprehensive development. He also highlighted the project's role in increasing the port's capacity and competitiveness by implementing cutting-edge technologies and best practices. This will create a world-class logistics environment that attracts more investments and drives economic growth. The smart yard is expected to resolve congestion issues at the port, offering an innovative solution to improve traffic flow, minimize delays, and unlock the full potential of SCZONE ports, ultimately benefiting both businesses and the local community. Egytrans Managing Director noted that Nafith Egypt combines Egytrans' extensive logistics expertise with Nafith International's transformative global technology solutions. She added that the new company has the capabilities needed to introduce innovative solutions to the Egyptian market, optimizing pre-shipment procedures and land transportation management. She explained that SCZONE's logistics services are the backbone of trade, as any increase in transportation and logistics costs directly affects trade flows and commodity prices, impacting market competitiveness. Nafith International's Chairperson also emphasized the importance of collaborating with Egytrans and SCZONE to introduce this major transformation, which reflects a shared vision for modernizing logistics operations and enhancing the efficiency of core infrastructure elements such as West Port Said Port. He highlighted Nafith's implementation of advanced digital systems and logistics management solutions in the region and globally. Nafith Jordan, the most established subsidiary of Nafith International, has rolled out nationwide digital logistics solutions, including truck control systems and port community systems in Jordan, Iraq, and Oman through public-private partnerships. Nafith currently manages over 12,000 trucks daily, facilitating more than seven million logistics movements annually. These achievements demonstrate the impact of digital solutions, and he expressed confidence in replicating this success at West Port Said. The new truck yard is strategically located just two kilometers from the port, covering an area of 114,000 square meters. It will feature automated gates, RFID-based smart container tracking, and a command and control center to automate truck entry, exit, and permit processes, improving communication and data integration. The project will also include a central digital registry for vehicle, driver, and stakeholder records, enhancing coordination. Nafith has implemented the NFLOW digital system, accessible via web and mobile applications, to streamline pre-arrival procedures. This system ensures that the right truck arrives at the designated time and location with the necessary documentation, facilitating smooth cargo pickup and delivery. The project is set to transform logistics operations at West Port Said by minimizing delays.
Daily News Egypt
10-02-2025
- Business
- Daily News Egypt
SCZONE signs contracts for smart truck yard at West Port Said with EGP 250m investment
The Suez Canal Economic Zone (SCZONE) has signed contracts to establish a new smart truck yard at West Port Said, aiming to ease congestion and boost operational efficiency. The project will leverage advanced technology to digitize and streamline truck movements in and out of the port, strengthening its position as a leading regional logistics hub. SCZONE Chairperson Waleid Gamal El-Dein and Port Said Governor Mohib Habashy Khalil signed the land lease contracts, while Gamal El-Dein also signed a partnership agreement with Egytrans CEO Abir Leheta and Nafith International's Chairperson Samir Mubarak. The 25-year strategic partnership will see the two companies develop and operate the smart truck yard at West Port Said with an investment of EGP 250m. Trial operations are set to begin in six months, with full operations expected within a year. Gamal El-Dein stated that the agreement aligns with SCZONE's strategic goals to modernize port infrastructure, simplify logistics processes, and enhance overall supply chain efficiency in Egypt. He emphasized that West Port Said is a vital component of trade, logistics, and service activities, and SCZONE is committed to its comprehensive development. He also highlighted the project's role in increasing the port's capacity and competitiveness by implementing cutting-edge technologies and best practices. This will create a world-class logistics environment that attracts more investments and drives economic growth. The smart yard is expected to resolve congestion issues at the port, offering an innovative solution to improve traffic flow, minimize delays, and unlock the full potential of SCZONE ports, ultimately benefiting both businesses and the local community. Egytrans Managing Director noted that Nafith Egypt combines Egytrans' extensive logistics expertise with Nafith International's transformative global technology solutions. She added that the new company has the capabilities needed to introduce innovative solutions to the Egyptian market, optimizing pre-shipment procedures and land transportation management. She explained that SCZONE's logistics services are the backbone of trade, as any increase in transportation and logistics costs directly affects trade flows and commodity prices, impacting market competitiveness. Nafith International's Chairperson also emphasized the importance of collaborating with Egytrans and SCZONE to introduce this major transformation, which reflects a shared vision for modernizing logistics operations and enhancing the efficiency of core infrastructure elements such as West Port Said Port. He highlighted Nafith's implementation of advanced digital systems and logistics management solutions in the region and globally. Nafith Jordan, the most established subsidiary of Nafith International, has rolled out nationwide digital logistics solutions, including truck control systems and port community systems in Jordan, Iraq, and Oman through public-private partnerships. Nafith currently manages over 12,000 trucks daily, facilitating more than seven million logistics movements annually. These achievements demonstrate the impact of digital solutions, and he expressed confidence in replicating this success at West Port Said. The new truck yard is strategically located just two kilometers from the port, covering an area of 114,000 square meters. It will feature automated gates, RFID-based smart container tracking, and a command and control center to automate truck entry, exit, and permit processes, improving communication and data integration. The project will also include a central digital registry for vehicle, driver, and stakeholder records, enhancing coordination. Nafith has implemented the NFLOW digital system, accessible via web and mobile applications, to streamline pre-arrival procedures. This system ensures that the right truck arrives at the designated time and location with the necessary documentation, facilitating smooth cargo pickup and delivery. The project is set to transform logistics operations at West Port Said by minimizing delays.
