More investments in the SCZone: The Suez Canal Economic Zone (SCZone) hasinked five framework agreements with private industrial players to invest c. USD 235 mn, split between FX commitments totalling USD 195 mn and local currency investments totalling EGP 1.2 bn, according to a cabinet statement.

The perks: The SCZone is offering to help out companies with their projects’ feasibility studiesas well as rights to use its land plots in return for a stake in these projects.

Just a drop in the bucket: The SCZone head Walid Gamal El Din said the agreements signedare the first of 50 others in the works.

#1- Ready-made clothing factory: Local ready-made garment maker Eroglu Egypt — the local arm of the Turkish Eroglu Holding — will invest over USD 150 mn to build a ready-made clothing factory in Qantara West Industrial Zone, under an usufruct agreement.

#2- Textile project: Turkey’s Jade Textile signed a framework agreement to invest USD 30 mn for a USD 30 mn ready-made garments unit for a larger factory that will also house a USD 35 mn dyeing unit.

** We interviewed Jade Textile CEO Selim Sankaya last year for our My Morning Routinecolumn.

#3- Plastic recycling project:Youssef Allam Group wants to set up a USD 15 mn plasticrecycling project in the Sokhna Industrial Zone. The project will recycle and manufacture polyethylene terephthalate — a material used in textiles and packaging.

#4- Pharma factory:Orchidia Pharma plans to build a pharma factory in the SCZone, withinvestments exceeding EGP 1 bn under an usufruct agreement.

#5- Woodworks project: Local wooden pallets manufacturer Al Hamd Wood will set up an EGP129 mn wood manufacturing plant in the Sokhna Industrial Zone.

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