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Two Indian factories break ground in Tech Valley: Two Indian-led metal industries manufacturing facilities worth a combined USD 40 mn broke ground in East Ismailia’s Technology Valley yesterday, according to a statement. The two project mark the start of development in the valley.
Project #1: Ferro Genesis is setting up a 35k sqm plant to produce silico-manganese and ferro-silicon from quartz and manganese ore. The factory will be set up in phases, with the first phase seeing USD 15 mn in investment. The project is expected to create 150 direct jobs.
Project #2: Willow Ferro is investing USD 25 mn into the first phase of its 40k sqm plant. The facility will produce ferro-silicon and ferro-chrome during initial operations, with an annual production capacity of 36k tons of silicon manganese products. It is expected to generate 120 direct jobs.
SOUND SMART- All alloys are essential in producing high-grade steel. Silico-manganese can also be used in automotive components and railway tracks, ferro-silicon can be used in the manufacture of semiconductors and magnesium, and ferro-chrome is also used in the refractory industry.
Tech Valley? Located on the eastern bank of the Suez Canal in East Qantara, Tech Valley spans 70 sq km and is positioned as a next-generation industrial and R&D hub, according to the SCZone’s website. The area is being primed for advanced manufacturing, smart technologies, clean energy, scientific research, logistics, and higher education, according to the SCZone’s Utilities website.
More in the SCZone pipeline: The Qantara West Industrial Zone will see a number of projects go online next month, SCZone head Walid Gamal El Din said.
PLUS- More investment heading to Ismailia: Nine Chinese and Turkish companies are investing a combined USD 41.6 mn in the Ismailia Public Freezone, according to a statement. The projects span a variety of sectors, including textile, ready-made garments, athletic protective gear, and parts for heating and plumbing devices. The projects are expected to create some 16k direct jobs, with production slated to begin in 2026.
