Latest news with #GamalEl-Dien
CairoScene
11-05-2025
- Business
- CairoScene
SCZone Reopens Abbas Wharf After EGP 1.8 Billion Upgrade
The upgraded West Port Said terminal is part of a wider push to boost logistics capacity and grain handling infrastructure. May 11, 2025 The Suez Canal Economic Zone (SCZone) has reopened Abbas Wharf at West Port Said following a EGP 1.8 billion development project. Announced by SCZone Chairman Waleid Gamal El-Dien, the revamped terminal is set to support key projects already in motion at the port, including new terminals for dry bulk grain and liquid cargo. The expansion is designed to improve port handling efficiency and attract further investment to the economic zone. The development falls within the state's Vision 2030 framework, which positions maritime infrastructure as a core driver of industrial growth and trade competitiveness. Gamal El-Dien noted that the upgraded wharf will not only improve logistics operations in West Port Said but also support long-term plans to expand food security and industrial storage capacity. The upgrade is part of Egypt's broader strategy to modernise logistics and strengthen port infrastructure across the country. Work on the terminal also reflects ongoing efforts to localise supply chains and create jobs, as the SCZone continues to position itself as a hub for regional trade and transit.
Zawya
26-03-2025
- Business
- Zawya
Egypt: Xinfeng to establish $1.65bln industrial complex in SCZone
Arab Finance: Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZone), inked a deal with XinFeng Egypt to establish an integrated manufacturing complex in Sokhna, as per a statement. The complex will cover nine industrial projects and two service centers for research and development and solid waste recycling. To be implemented in two phases over five years, the projects will cover an area of 3.75 million square meters, with a total investment of $1.65 billion. They are expected to create around 8,000 jobs. Gamal El-Dien highlighted that the first phase will include four factories, with the first three set to commence operation in early 2027. It will span 2 million square meters and provide 4,419 job opportunities. The company will develop an automotive components factory with an annual production capacity of 230,000 tons and a metallic components factory for home appliances with an annual output of 50,000 tons. A standard fasteners (bolts and nuts) factory will also be developed at an annual production of 100,000 tons, in addition to a hot-rolled coil factory with an output of 2 million tons per year. As for the second phase, it will cover 1.75 million square meters and secure 3,575 jobs. It will consist of five factories, including a machinery spare parts facility with an annual output of 200,000 tons and a rake disc factory with an annual production of 150,000 tons. The complex will also include a steel structures factory with an annual production of 100,000 tons, an aluminum-magnesium alloy auto parts factory with an annual output of 20,000 tons, and a cold-rolled steel factory with a yearly production of 2 million tons. The pilot operation of the first four projects will begin in January 2029, while the cold-rolled steel facility will start operating in March 2030. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
17-03-2025
- Business
- Zawya
Egypt: SCZone, China's Jiangsu Guotai ink $10mln deal for ready-made garment factory
Arab Finance: Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZone), penned a usufruct agreement with Chinese Jiangsu Guotai to establish a ready-made garment factory, with total investments of $10 million (EGP 500 million), as per a statement. To be developed on an area of 21,000 square meters in the Qantara West Industrial Zone, the factory will export its entire production to global markets. It will also provide 2,000 direct job opportunities. Gamal El-Dien highlighted that the SCZone has signed 15 usufruct contracts in Qantara West at a combined value of $490 million. These projects span over 1.31 million square meters and are expected to employ 20,000 workers. The factories will export 80% of their output to Europe and the Americas, mainly through West Port Said Port. He added that the authority has already broken ground on five projects, with two of them expected to be inaugurated in the second half (H2) of 2025. Meanwhile, the remaining projects will follow in the completion process. It is worth highlighting that Jiangsu Guotai is a subsidiary of the Jiangsu Guotai International Group (GTIG), which was founded in 1988. The group provides high-level services in textiles, ready-made garments, spinning, yarn production, fabrics, home textiles, and accessories. It owns branches in the US as well as several Asian and European countries, employing over 4,000 people. In 2023, the company's revenue hit $9.2 billion. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
18-02-2025
- Business
- Zawya
Egypt: Foundation stone laid for $38M FBB-Tech electronics project in Sokhna
Egypt - Chairman of the Suez Canal Economic Zone (SCZone) Waleid Gamal El-Dien has laid the foundation stone for the "FBB-Tech" electronics project in the Sokhna Industrial Zone, with investments worth $38 million, as per a statement. Covering an area of 110,000 square meters, the project is being developed by China's FBB-Tech in collaboration with Hisense, within the scope of the industrial developer TEDA-Egypt. It aims to produce 1 million units annually and provide 337 job opportunities. Gamal El-Dien noted that the FBB-Tech project aligns with Egypt's efforts to promote sustainable development and investment in key sectors, including electronics and electrical appliances. The project plans to allocate 30% of its production to the local market, while 70% will be exported to Europe and North and East Africa. FBB Holding, established in 2019 and headquartered in Dubai, is a global trading company with a strong presence across Belgium, Germany, Libya, Egypt, Cyprus, Jordan, Bahrain, and the UAE. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
