Latest news with #WaleidGamalElDien
Zawya
an hour ago
- Business
- Zawya
Egypt: SCZone explores investment opportunities in ports, industrial zones with Singapore
Arab Finance: Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZone), and Dominic Goh, Singapore's Ambassador to Egypt, explored investment opportunities in industrial and logistics zones or seaports affiliated with the authority, according to a statement. The SCZone offers numerous investment opportunities in line with its strategic vision that covers 21 diverse industrial and logistics sectors, Gamal El-Dien noted. He also affirmed that integration between ports and industrial zones represents a link between production and manufacturing operations. This targets global markets, given the authority's six ports on the Mediterranean and Red Seas. The chairman also rolled out plans to cooperate with Singaporean institutions and companies in a number of key sectors. Meanwhile, coordination with the Singapore Cooperation Agency (SCE) is underway to transfer Singapore's expertise in port management and operations using the latest smart port management systems. Gamal El-Dien stressed the importance of this cooperation to support the digital transformation strategy for ports, which contributes to enhancing governance indicators and increasing operational efficiency.
Zawya
22-07-2025
- Business
- Zawya
Egypt: SCZone launches 1st roadshow for FY2025/26 in China to attract major investments
Arab Finance: The General Authority of the Suez Canal Economic Zone (SCZone) has launched its first roadshow for fiscal year (FY) 2025/2026 in China to promote opportunities and attract Chinese investments in Egypt, according to a statement. The authority mainly aims to draw in investments in the fields of textiles, ready-made garments, automotive, ports, and logistics services. During his tour, Waleid Gamal El-Dien, the Chairman of the SCZone, discussed Hong Kong-based Crystal International's plans to establish a textile factory on an area of 1.5 million square meters in the Qantara West zone, with expected investments ranging between $250 and $300 million. The project is expected to offer job opportunities for 30,000-35,000 people. The Chairman also inspected the Shenzhen Qianhai Exhibition Hall, hosted by the Qianhai Authority, to review the development projects in the Qianhai Special Economic Zone, which include industrial, logistics, and port-related activities. He also visited the Yantian International Container Terminals, which is managed by the global operator Hutchison, the same operator of the Sokhna Port Container Terminal. The terminal boasts a 1,200-meter quay length and a yard area of 720,000 square meters, with an investment cost of $250 million. It is expected to open soon. The first day of the SCZone delegation's tour of Shenzhen concluded with a visit to BYD's headquarters, where they learned about the company's leading products in the electric vehicle (EV) industry. BYD also specializes in the manufacture of electric car batteries, storage batteries, and solar panels. Moreover, Gamal El-Dien met with the company's officials to discuss its presence in the SCZone as a gateway to reach African and Middle Eastern markets. He emphasized that the company's investment in the zone will strengthen the establishment of a major industrial base, including the manufacture of EVs, electric car batteries, and solar panels. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
17-07-2025
- Business
- Zawya
Egypt: SCZone, Nile Plastic Recycling seal deal for new PET recycling facility in Sokhna Industrial Zone
Arab Finance: The Suez Canal Economic Zone (SCZone) and Nile Plastic Recycling Company signed an agreement to establish a new polyethylene terephthalate (PET) recycling facility in the Sokhna Integrated Industrial Zone, according to a statement. With an additional investment of $15 million (EGP 742 million), the project will cover an area of 10,000 square meters and provide about 500 direct job opportunities. Its annual production capacity will stand at 20,000 tons of processed plastic waste, with 70% of the production allocated for export to foreign markets. Only 30% of production will be directed to meet the needs of the local market. This supports the state's objectives to increase industrial exports and enhance the added value of Egyptian recycled products. It is worth noting that PET is a key raw material used in food-grade plastic bottles. Waleid Gamal El-Dien, the Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), emphasized that this expansion reflects the authority's commitment to supporting the green economy and promoting sustainability. Gamal El-Dien said the recycling projects mark a fundamental pillar in the efforts to transition to a clean, low-emission industry, contributing to lowering resource loss, creating job opportunities, and enhancing the global competitiveness of Egyptian products. The Nile Plastic Recycling project inked the first contract in November 2024 to establish a factory on an area of 12,000 square meters to recycle polyethylene terephthalate (PET) bottles into recycled materials (rPET) suitable for food use, with initial investment amounted to $20 million, providing 500 jobs. The first phase is expected to commence operations in the first half (H1) of 2026. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
17-07-2025
- Business
- Zawya
SCZONE, MDC, TEDA Egypt ink $100 deal for joint project in Sokhna Industrial Zone
Arab Finance: The General Authority for Suez Canal Economic Zone (SCZONE), the Main Development Company (MDC), and TEDA Egypt inked a joint deal for a project in the Sokhna Industrial Zone, with a total investment of $100 million, according to a statement. The signing aligns with TEDA Egypt's near completion of the development of the previously allocated 7,000 square meters, bringing the total allocated area to about 10,000 square meters. The agreement covers transferring the usufruct rights for a 2,860-square-meter plot of land within the Sokhna Industrial Zone, which will contribute to attracting more diverse investments and creating integrated and sustainable industrial communities. Prime Minister Mostafa Madbouly stressed the importance of this cooperation in accelerating industrial development within the SCZONE, highlighting its potential and capabilities to become one of the region's major manufacturing and logistics centers. Madbouly noted that the state is working to foster partnerships with the local and foreign private sector to boost development and create job opportunities. For his part, Waleid Gamal El-Dien, the Chairman of the SCZONE, said the deal marks a strategic step toward strengthening the development system within the Sokhna Integrated Industrial Zone. It also backs the authority's efforts to maximize the investment value of industrial lands and make the most of the available infrastructure, Gamal El-Dien noted. It is worth highlighting that the economic zone succeeded in attracting Chinese investments exceeding $4 billion over the past three years. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
17-07-2025
- Business
- Zawya
SCZone, Nile Plastic Recycling seal deal for new PET recycling facility in Sokhna Industrial Zone
Arab Finance: The Suez Canal Economic Zone (SCZone) and Nile Plastic Recycling Company signed an agreement to establish a new polyethylene terephthalate (PET) recycling facility in the Sokhna Integrated Industrial Zone, according to a statement. With an additional investment of $15 million (EGP 742 million), the project will cover an area of 10,000 square meters and provide about 500 direct job opportunities. Its annual production capacity will stand at 20,000 tons of processed plastic waste, with 70% of the production allocated for export to foreign markets. Only 30% of production will be directed to meet the needs of the local market. This supports the state's objectives to increase industrial exports and enhance the added value of Egyptian recycled products. It is worth noting that PET is a key raw material used in food-grade plastic bottles. Waleid Gamal El-Dien, the Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), emphasized that this expansion reflects the authority's commitment to supporting the green economy and promoting sustainability. Gamal El-Dien said the recycling projects mark a fundamental pillar in the efforts to transition to a clean, low-emission industry, contributing to lowering resource loss, creating job opportunities, and enhancing the global competitiveness of Egyptian products. The Nile Plastic Recycling project inked the first contract in November 2024 to establish a factory on an area of 12,000 square meters to recycle polyethylene terephthalate (PET) bottles into recycled materials (rPET) suitable for food use, with initial investment amounted to $20 million, providing 500 jobs. The first phase is expected to commence operations in the first half (H1) of 2026. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
