PM witnesses signing of Ain Sokhna industrial land development agreement

Prime Minister Mostafa Madbouly this morning witnessed the signing of a contract to develop and transfer usufruct rights for a 2.86-square-kilometer plot of land within the Ain Sokhna industrial zone, part of the Suez Canal Economic Zone (SCZONE).

The agreement was signed by the SCZONE, the Main Development Company (MDC), and Egypt TEDA Special Zone Development Company at a ceremony held at the New Alamein Government Headquarters, attended by Vice Prime Minister for Industrial Development and Minister of Industry and Transport Kamel Al-Wazir.

The new contract coincides with TEDA Egypt nearing completion of infrastructure works on its previously allocated 7 square kilometres, bringing its total developed area within the Ain Sokhna industrial zone to nearly 10 square kilometers.

This step underlines SCZONE’s commitment to developing and optimally utilizing industrial land through partnerships with experienced developers. Under the agreement, the developer will undertake new infrastructure works with total investments of $100 million, expected to attract a wider range of industrial projects and support the Authority’s goal of establishing integrated, sustainable industrial communities.