$83 billion.. volume of Investments in an industrial complex in Sokhna region

Dr. Mostafa Madbouly, Prime Minister, reviewed, in a meeting with Walid Gamal El-Din, Chairman of the General Authority for the Development of the Suez Canal Economic Zone, the executive position of the investment projects taking place in the region.

During the meeting, Walid Gamal El-Din referred to a number of projects that have been completed. Some of the development work of Ain Sokhna projects has been completed, with the construction of a seawater desalination plant.

Investment volume of $83 billion

Gamal El-Din confirmed that, the efforts made by the authority to promote investment opportunities, incentives and advantages during the COP27 climate conference in Sharm El-Sheikh, resulted in the signing of 9 contracts,  for green fuel projects with the aim of forming an integrated logistical industrial cluster in the Sokhna region, with an expected investment volume of $83 billion until 2030.

• $552 million

In addition to signing 3 contracts in East Port Said to establish 3 new projects in the port with cumulative investment costs amounting to $552 million, as well as signing two memorandums of understanding within the framework of environmental protection and recycling of factory waste and existing activities within the region.

• Suez Canal Economic Zone

He touched on the results of the promotional efforts of the projects of the Suez Canal Economic Zone, explaining that the completion rate reached 68%.

The head of the General Authority for the Development of the Suez Canal Economic Zone reviewed the results of his tour in the Japanese capital, Tokyo, to promote investment opportunities.

Pointing out that he met with Hideki Okada, Executive Director and Head of Business Development at Japan Cooperation Overseas Infrastructure Investment (JOIN).

Investment opportunities

The investment opportunities available in the region and the elements of investment in it were discussed. The advantages and attractive incentives were presented, and the state's efforts to create an attractive investment environment for all foreign investors were reviewed.

In addition to reviewing the already existing Japanese investments within the scope of the Suez Canal economic zone, the two parties agreed to sign a memorandum of understanding in several fields.