{"id":654676,"date":"2024-11-06T00:00:00","date_gmt":"2024-11-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/kemet-data-center-secures-land-under-usufruct-agreement\/"},"modified":"2024-11-06T00:00:00","modified_gmt":"2024-11-06T00:00:00","slug":"kemet-data-center-secures-land-under-usufruct-agreement","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/kemet-data-center-secures-land-under-usufruct-agreement\/","title":{"rendered":"Kemet Data Center secures land under usufruct agreement"},"content":{"rendered":"

SCZone inks land usufruct agreement for Kemet Data Center:<\/strong> The Suez Canal Economic Zone (SCZone) signed a land usufruct agreement with Intro Group that gives it access to a plot in the Sokhna Industrial Zone to set up the USD 450 mn Kemet Data Center<\/a>, according to a cabinet statement<\/a>. <\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

Fresh details emerge: <\/strong>During a meeting with<\/a>Prime Minister Moustafa Madbouly<\/a>, Intro Group representatives said that the project will be expanded to include four phases each with a capacity of 20 MW, pushing its price tag at USD 1 bn.<\/p>\n

And we have a completion date: <\/strong>The project is expected to be fully completed by the end of 2030, Madbouly said. <\/p>\n

An export-oriented center: <\/strong>The project will target exporting cloud solutions and digital services to markets abroad, specifically in the Middle East and Africa. <\/p>\n

Opening the door for more data centers:<\/strong> Madbouly noted that Egypt remains interested<\/a> in attracting greater investment in data centers through simpler procedures, more incentives, and a better-equipped workforce<\/p>\n

REFRESHER- We first heard about the big-ticket project back in September<\/strong>, after Intro Technology signed a MoU with Omani data center leader Oman Data Park to establish the Kemet Data Center on 80k sqm in the SCZone. The partially solar-powered center will serve large companies looking for cost-effective and advanced cloud solutions, Internet of Things (IoT), and digital transformation. <\/p>\n

Also onboard: <\/strong>Data center engineering leader Sterling and Wilson Data Center will act as the<\/a>project\u2019s EPC contractor<\/a>, overseeing design, budgeting, timeline management, and systems testing and accreditation. The firm will also maintain the facility for 3-5 years after the project\u2019s completion.<\/p>\n

\n

MANUFACTURING HONEYWELL LIGHTING PRODUCTS LOCALLY-<\/p>\n

Siraj Lightning to manufacture Honeywell Lighting products locally: <\/strong>Egypt\u2019s Siraj<\/a>Lighting<\/a> signed a USD 15 mn agreement with electric lighting equipment manufacturer Vesra<\/a> \u2014 a Honeywell authorized licensee \u2014 to produce Honeywell lighting products in its factory in the the Suez Canal Economic Zone (SCZone), according to a cabinet statement<\/a>. <\/p>\n

The details:<\/strong> Siraj will be producing indoor and outdoor lighting for use in commercial, residential, and industrial settings, with plans to export 30% of output during the first phase of the project. <\/p>\n

Lowering the import bill:<\/strong> The project will create new jobs, foster economic growth, and increase exports, Prime Minister Moustafa Madbouly said at the agreement\u2019s signing.<\/p>\n

** Earlier this week we ran an <\/strong>Inside Industry<\/a><\/strong> on Egypt\u2019s efforts<\/strong> to localize 152 <\/strong>industries <\/strong>by 2030<\/strong> through offering support for factories and improving the technical capabilities of industry.<\/p>\n

\n

TWO TURKISH COMPANIES LOOKING TO SET UP SHOP IN EGYPT-<\/p>\n

USD 360 mn worth of Turkish investments? <\/strong>One Turkish ready-made garments maker is looking to invest USD 160 mn to set up a factory in the Tenth of Ramadan and another is looking to set up a USD 200 mn furniture factory in Damietta\u2019s freezone, according to a statement<\/a>. This came during Investment Minister Hassan El Khatib visit to Turkey<\/a> aimed at boosting trade and investment relations between the two nations.<\/p>\n

That\u2019s not all: <\/strong>A Turkish retail player told Al Khatib that it is looking to expand its Egyptian footprint, setting up an additional 600 branches on top of its already existing 400. <\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS- Siraj will be producing Honeywell\u2019s indoor and outdoor lighting for use in commercial, residential, and industrial settings<\/p>\n","protected":false},"author":1,"featured_media":654677,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[7412,72,874,3372,125,131,6702],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-654676","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-data-centers","tag-enterpriseam","tag-honeywell","tag-intro-group","tag-investment-watch","tag-manufacturing","tag-sczone","wpautop","entry"],"acf":{"mongo_id":"f860d3b9-f478-41ab-b458-50efb867c732","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/470.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Kemet Data Center secures land under usufruct agreement","related_issue":[654666],"teaser":"PLUS- Siraj will be producing Honeywell\u2019s indoor and outdoor lighting for use in commercial, residential, and industrial settings","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.b9e33d55-8a21-42d6-89c2-773485174200.mp3"},"yoast_head":"\nKemet Data Center secures land under usufruct agreement - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/kemet-data-center-secures-land-under-usufruct-agreement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kemet Data Center secures land under usufruct agreement\" \/>\n<meta property=\"og:description\" content=\"PLUS- Siraj will be producing 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