The Suez Canal Economic Zone (SCZONE) announced Wednesday the groundbreaking ceremony for the Ferro Genesis and Willow Ferro factories, which will specialize in producing metal alloys essential for high-quality steel. The projects, located in the East Ismailia Technology Valley, represent a combined initial investment of $40 million.
SCZONE Chairman Walid Gamal El-Din said the new factories
were a milestone in the government's broader strategy to develop the Sinai
Peninsula. He noted that the projects would create numerous job opportunities
for local residents. The event also marked the tenth anniversary of the
presidential decree that established the SCZONE in 2015.
The Ferro Genesis factory, with a $15 million first-phase
investment, will span 35,000 square meters and create 150 direct jobs. It will
produce silicomanganese and ferrosilicon.
Meanwhile, the Willow Ferro factory will have a first-phase
investment of $25 million across a 40,000-square-meter area, creating 120
direct jobs. The factory's annual production capacity is estimated at 36,000
tons of silicomanganese products, with initial operations also including
ferrosilicon and ferrochrome.
Attending the groundbreaking ceremony were: Major General
Pilot Akram Galal, Governor of Ismailia, Suresh Reddy, the Indian Ambassador to
Cairo, Chinmay Kumar, Chairman of "Ferro Genesis", and Jasjit Singh,
Chairman of "Willow Ferro," in addition to a number of the
authority's executive leaders.
The first project will be the establishment of the Indian
"Ferro Genesis" factory in two phases, with a third phase to be
agreed upon later. The factory will produce silicomanganese and ferrosilicon
from quartz and manganese ore, which are essential components in the production
of high-quality steel. The first phase of the project has an investment of $15
million, equivalent to 750 million Egyptian pounds, on an area of 35,000 square
meters, and will provide 150 direct jobs.
The second project is the establishment of the Indian
"Willow Ferro" metal industries factory in two phases. The first
phase is located on an area of 40,000 square meters, with investments of $25
million, and will provide 120 direct jobs. The project's production capacity is
estimated at 36,000 tons annually of silicomanganese products. The factory will
begin its initial operating periods by producing ferrosilicon and ferrochrome.
Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone
(SCZONE), expressed his delight at the launch of industrial development in the
East Ismailia "Technology Valley," located in Sinai. He emphasized
that this success, following three years of continuous effort, is a testament
to the SCZONE's promotional campaigns. He added that localizing industry and
logistics in the area will create numerous direct and indirect job
opportunities for the people of Sinai.
The chairman explained that SCZONE's efforts align with the
state's broader development of Sinai, including the creation of the New
Ismailia City. The "Technology Valley" will serve as the city's
industrial backbone, in line with SCZONE's strategy to create integrated,
industry-supported communities. This entire region is served by a modern
transportation network, including the new El-Ferdan Bridge, renovated railway
stations, and the July 3 tunnels under the Suez Canal, as well as essential
infrastructure like power, desalination, and water treatment plants. He stated
that the development of the "Technology Valley" leverages all of
SCZONE's economic tools, which include four industrial zones and six seaports
that work together to connect manufacturing centers with target markets.
Gamal El-Din concluded his speech by announcing upcoming openings in the West Qantara industrial zone in September, highlighting the SCZONE's commitment to localizing and deepening industry across all its zones, especially West Qantara, which is being established as a global hub for textiles and ready-made garments.