Elsewedy subsidiary to develop SCZone area for estimated EGP 10 bn

INVESTMENT WATCH- Elsewedy to develop EGP 10 bn industrial zone in SCZone: An Elsewedy Electric subsidiary has signed a contract with the Suez Canal Authority that will see it develop an industrial zone in Ain Sokhna in the Suez Canal Economic Zone (SCZone) at an estimated total cost of EGP 10 bn, it said in an EGX disclosure (pdf). Elsewedy for Industrial Development will build the facility over a 10-year period.