PHOTO
Suez Canal Economic Zone (SCZONE) announced on Monday that it has signed a $100 million agreement with the UAE-based Alpha Smart Investment Company to develop a ‘plug-and-play’ industrial complex in Sokhna Industrial Zone.
The project will be developed in two phases over an area of 500,000 square metres (sqm) and is expected to attract more than $150 million in investments, while generating 5,000 direct and over 7,000 indirect jobs, according to an SCZONE press statement.
The complex will feature fully fitted industrial units, end‑to‑end logistics services, business and innovation hubs, as well as administrative, commercial, service facilities.
According to SCZONE, the ready‑to‑use industrial facilities and bundled services will enable companies to commence operations within 90 days or less.
The initial 250,000 sqm Phase 1 will deliver 50 percent of the industrial units planned for the complex alongside infrastructure and utilities including a 25MW power facility.
The second phase spanning 250,000 sqm will focus on the development of logistics and other service facilities and the completion of the remaining project components to enable full commercial operations.
(Writing by Eman Hamed; Editing by Anoop Menon)
Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
