Saudi-Egyptian company Techno Bond targets up to USD 50 mn in investments for Sokhna plant

Saudi-Egyptian company Techno Bond signed a contract with Main Development Company (MDC) to build an industrial complex for aluminum cladding panels and aluminum coils in the Sokhna Industrial Zone, according to a statement from the General Authority for the Suez Canal Economic Zone (SCZone). The project will be built on a 25k sqm site within MDC’s development area, with USD 18 mn in initial investment and a total target of USD 50 mn. The first phase is expected to begin operation by the end of 2027.

Sokhna’s manufacturing pipeline grows: The signing adds to a string of foreign-backed manufacturing investments in Sokhna. These include Turkish manufacturer Ukinox’s planned USD 14 mn stainless-steel kitchen-sink plant and Chinese solar equipment maker Sunrev Solar’s USD 200 mn solar-component manufacturing complex in the China-Egypt Teda trade zone.

MEANWHILE- Turkish investors are planning to invest USD 150 mn in seven factories in the SCZone, focused on textiles, garments, and auto parts, Al Borsa reports, citing Egyptian-Turkish Businessmen Association Vice President Hamada Al Agwani. The investors are preparing land allocation and licensing applications, with formal submissions expected in the next two to three months. Project locations and other details have yet to be finalized.

Agriculture too: Egypt and Turkey are discussing a package of agricultural projects estimated at around USD 100 mn, spanning modern irrigation, seed production and packaging, and agro-processing, Al Mal reports, citing unnamed Agriculture Ministry sources. The discussions also cover easing licensing and investment procedures, though the government hasn’t publicly confirmed the proposed investment value, participating companies, individual projects, or timeline.

From farms to factories: The proposals include joint efforts to localize modern irrigation technologies, develop higher-quality seeds, and establish agro-processing facilities for fruit and other horticultural concentrates. The talks are reportedly looking at prospects in East Oweinat and the New Delta, as well as research and training programs involving Egypt’s Agricultural Research Center. Turkish investors are also expected to visit Egyptian agricultural projects and farms to assess potential prospects.

IN CONTEXT- The proposed projects would extend the Egyptian-Turkish investment push into agriculture. Turkish companies have invested more than USD 3 bn in Egypt across some 1.7k businesses, with textiles and garments being a key focus and Qantara West emerging as a hub for prospective Turkish manufacturers. Cairo and Ankara are targeting USD 15 bn in bilateral trade by 2028, up from around USD 9 bn, while businesses on both sides are discussing a USD 4-5 bn investment pipeline across textiles, chemicals, ports, logistics, and contracting.

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