Suez Canal Economic Zone sees $85 million in new industrial investments

Egyptian Prime Minister Mostafa Madbouly inaugurated nine new industrial projects within the Suez Canal Economic Zone (SCZONE), representing total investments of approximately $85 million. The expansion is expected to create 2,000 new jobs and strengthens Egypt's goal of localizing intermediate industries and enhancing export capabilities.

Key projects inaugurated include:

• Technovision: A $16 million facility specializing in medical vehicle equipment (ambulances and mobile clinics) and dental equipment assembly. • F-Tex International: A $10 million plant for producing woven polyester yarns with an annual capacity of 65,500 tons. • Designy Doors: A $12 million phase of a project producing wooden and WPC doors and interior finishing products. • White Stone Egypt for Mining: A $5 million calcium carbonate production plant serving the plastics, paint, and construction sectors.

Other projects include facilities for artificial grass, gypsum board, and fertilizers. Madbouly emphasized that the SCZONE has become a global industrial hub, noting that some new factories achieve local component rates as high as 90% to 95%, reducing reliance on imports and supporting integrated industrial value chains.