The SCZone's focus is on making it a center for medium and light industries.
Suez Canal Economic Zone focuses on medium and light industries in East Port Said - File Photo
Egypt's Suez Canal Economic Zone (SCZone) continues its efforts to localize targeted industries, particularly in the East Port Said Industrial Zone, where the area is being prepared to accommodate various types of industries. However, the SCZone's focus is on making it a center for medium and light industries.
Here are the main projects in the East Port Said Industrial Zone:
The Egyptian Railway Industry Company was established with the aim of deepening and localizing the railway industry in Egypt, especially electrically powered rolling stock. The project is being built on an area of 300,000 square meters with investments estimated at around $240 million.
The project's production capacity in the first phase is 100 mobile units per year, with the second phase involving the rehabilitation of 125 electrically powered mobile units per year, and the third phase is for the production of 150 units of high-speed electric trains per year, which will contribute to the creation of 2,000 job opportunities.
A strategy to develop the automotive industry was launched to attract massive foreign investments to establish car manufacturing projects and related industries in the industrial zone in East Port Said, in order to provide an alternative to imports, which currently cost $4 billion annually, and to export Egyptian-made cars to African markets using free trade agreements.
Approvals are currently being issued to establish seven projects in the East Port Said Industrial Zone, with a total area of 62,000 square meters.
These industries vary from manufacturing arabic gum and its derivatives, to casting and iron pipes and accessories, as well as several warehouses and storage facilities and a concrete station.
In June 2022, the SCZone signed a memorandum of understanding with the German company H2 Industries, specializing in energy storage, to establish the first waste-to-green-hydrogen conversion plant in the East Port Said Industrial Zone, with investments of around $4 billion.
These projects are part of Egypt's efforts to attract foreign investment and diversify its economy, which has been impacted by the COVID-19 pandemic.
The SCZone aims to create a comprehensive industrial hub that will contribute to the development of the surrounding areas and improve the standard of living for the local population.
