The Authority of Suez Canal Economic Zone (SCZone), signed a new project with Pearl Group to establish a polyurethane production factory. The signing ceremony was in the presence of Chairman of SCZone, Walid Gamal El-Din.

The agreement involves developing the project within the MDC industrial developer’s ready-built factories in the Ain Sokhna industrial zone.

The project, spanning 5,000 square meters, will see an initial investment of EGP 100 million and create approximately 45 jobs, with production scheduled to begin in the first quarter of 2025. The target output for the project’s first phase is 20,000 tons of polyurethane annually.

 El-Din highlighted SCZone’s comprehensive incentives for investors, including direct and indirect financial incentives, export support programs, and exemptions for exported goods.

 These benefits, coupled with the Zone’s strategic location and integration of industrial areas with seaports, create an attractive environment for Pearl Group, especially as it aims to reach African and Southern European markets.

He also emphasized the authority’s mission to develop integrated industrial complexes to support global supply chains.

The company chose SCZone as the location for this project due to its strategic export position to neighboring countries.