{"id":663225,"date":"2025-04-06T00:00:00","date_gmt":"2025-04-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/06\/modon-taps-elsewedy-industrial-development-to-build-and-run-ras-el-hekma-industrial-zone-plus-banknbox-heads-to-qatar\/"},"modified":"2025-04-06T00:00:00","modified_gmt":"2025-04-06T00:00:00","slug":"modon-taps-elsewedy-industrial-development-to-build-and-run-ras-el-hekma-industrial-zone-plus-banknbox-heads-to-qatar","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/06\/modon-taps-elsewedy-industrial-development-to-build-and-run-ras-el-hekma-industrial-zone-plus-banknbox-heads-to-qatar\/","title":{"rendered":"Modon taps Elsewedy Industrial Development to build and run Ras El Hekma industrial zone. PLUS: Banknbox heads to Qatar"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Modon Holding and Elsewedy Industrial Development will develop and run an industrial zone in Ras <\/strong><strong>El Hekma<\/strong>, which is set to span 10 mn sqm and employ more than 20k people, the Emirati-based <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c6c12975-8799-49e6-af3e-e896885687a3\/adq-taps-modon-holding-as-master-developer-for-egypt%E2%80%99s-ras-el-hekma-megaproject\" style=\"\" rel=\"noopener\">master developer of the project<\/a> said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/4\/34.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The zone will first target investors and companies in the building materials sector to support the construction of the city.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>(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<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hassan Allam Group\u2019s 3S Ready Mix Concrete may set up shop in the zone<\/strong>, with the arm of the company having inked an MoU with the Abu Dhabi wealth fund ADQ portfolio company to supply building materials and explore the possibility of developing production lines at the planned industrial zone. Modon has also inked similar MoUs with Elsewedy Electric, along with the UAE\u2019s RAK Ceramics and Hitech Concrete.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">EXPANSION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cairo-based t<\/strong><strong>hird-party payment processing<\/strong><strong> platform <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.banknbox.com\/\" style=\"\" rel=\"noopener\">Banknbox<\/a><\/strong><strong> planted its flag <\/strong><strong>in Qatar<\/strong>, having set up its headquarters in the country \u2014 its first expansion in the Gulf \u2014 and securing a license from the Qatar Financial Centre, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/4\/32.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. Banknbox will expand in the country through a strategic partnership with digital wallet provider Cwallet, with plans to launch its services in 2Q 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The zone is set to span 10 mn sqm and employ more than 20k people<\/p>\n","protected":false},"author":1,"featured_media":663226,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7209],"tags":[299,111,7390,130,12143,72,183,131,8822,7388,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-663225","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-adq","tag-also-on-our-radar","tag-banknbox","tag-construction","tag-elsewedy-industrial-develop","tag-enterpriseam","tag-fintech","tag-manufacturing","tag-modon-holding","tag-ras-el-hekma","tag-startups","wpautop","entry"],"acf":{"mongo_id":"f83dcd84-dca1-4be8-afcc-7db972b3510c","order":"15","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1885.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Modon taps Elsewedy Industrial Development to build and run Ras El Hekma industrial zone. PLUS: Banknbox heads to Qatar","related_issue":[663199],"teaser":"The zone is set to span 10 mn sqm and employ more than 20k people","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/4\/.b8fd38ac-4cd0-4d01-904e-50e8054b2576.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Modon taps Elsewedy Industrial Development to build and run Ras El Hekma industrial zone. PLUS: Banknbox heads to Qatar - 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\/2025\/04\/06\/modon-taps-elsewedy-industrial-development-to-build-and-run-ras-el-hekma-industrial-zone-plus-banknbox-heads-to-qatar\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Modon taps Elsewedy Industrial Development to build and run Ras El Hekma industrial zone. 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