The agreement, signed by the SCZONE, the Main Development
Company (MDC), and TEDA Egypt for Special Economic Zone Development, will bring
TEDA Egypt's total developed area within Ain Sokhna to approximately 10 square
kilometers.
The ceremony, held at the government headquarters in New
Alamein City, was attended by Lieutenant General Engineer Kamel Al Wazir,
Deputy Prime Minister for Industrial Development and Minister of Industry and
Transport. Signatories included Walid Gamal El Din, Chairman of the SCZONE,
Rear Admiral Waleed Youssef, Managing Director of MDC, and Wei Jin Cheng,
General Manager of TEDA China-Africa and Board Member of TEDA Egypt Group of
Companies.
The $100 million infrastructure investment by the developer
aims to attract more diverse industrial investments and establish integrated,
sustainable industrial communities, according to the SCZONE.
Madbouly underscored the importance of the collaboration in
accelerating industrial development within the Suez Canal Economic Zone,
highlighting its potential as a regional manufacturing and logistics hub. He
affirmed the government's commitment to boosting partnerships with local and
foreign private sectors to drive growth and create jobs, commending SCZONE's
success in attracting industrial developers to expand.
SCZONE Chairman Walid Gamal El Din stated that the contract
marks a strategic move to enhance development in the Ain Sokhna Industrial
Zone, aiming to maximize the value of industrial land and leverage existing
infrastructure. He noted that the partnership with MDC and TEDA Egypt
facilitates a comprehensive development plan aligned with SCZONE's strategy to
localize industries and deepen local manufacturing.
Gamal El Din added that TEDA Egypt's expansion demonstrates
the success of the partnership in attracting investments and fostering an
integrated industrial community. He pledged SCZONE's continued support to
ensure the ongoing success of this "unique model for fruitful economic
cooperation and sustainable industrial development."
The SCZONE chairman also highlighted that the expansion
offers a new platform for targeted industries and will attract more Chinese
companies seeking access to regional and global markets. He noted that the
SCZONE has drawn over $4 billion in Chinese investments in the past three
years, expressing confidence that mutual trust and shared goals will help
double this figure soon.
TEDA Egypt is a prominent industrial developer in the SCZONE, with extensive experience in developing industrial communities and attracting numerous Chinese and international investments. MDC, an investment arm of the SCZONE, focuses on developing and managing industrial assets.