SCZone’s “Pharma City” targets EUR 4 bn in investments over five years

The Suez Canal Economic Zone will feature a designated “Pharma City” targeting domestic and global manufacturers, Suez Canal Economic Zone chief Ahmed Darwish said yesterday as he announced the signing of a letter of intent to create an industry-specific hub he expects will attract EUR 4 bn in investments over five years, primarily from UK, US and Spanish companies. Darwish reiterated yesterday that the SCZone will also include clusters for the automotive industry (including component makers), electronics and apparel, Al Borsa reports.