Walid Gamal El-Din, head of the General Authority for the Economic Zone of the Suez Canal, announced that the region recently signed a contract to establish a logistics zone with DP World in the industrial zone in Sokhna, on an area of 300,000 square meters, with an expected investment of $80 million, where the logistic zone is used for logistical and commercial activities. And distribution, to serve the economic zone’s investors, and also aims to provide about 600 direct jobs, as well as indirect job opportunities, to start implementation of the project in the coming months.
Gamal El-Din added that he is in discussions with DP World to expand its investments in the economic zone, as the company is one of the success and development partners of the region, noting that the Suez Canal Economic Zone has succeeded in attracting the attention of investors and major international companies to invest in it during the past 3 years, as a result of the infrastructure The strong position it offers to investors, in addition to the strategic location of its ports on the Red and Mediterranean Bahrain, and their integration with the adjacent industrial areas, as well as the investment incentives that have been approved during the past two years and the one-stop service that facilitated many procedures for investors.
During his speech at the session “Egypt is a Logistics Center” within the sessions of the Egyptian-Emirati Economic Forum and the celebration of 50 years of Egyptian-Emirati relations, he stressed that the economic zone will become one of the most important centers of green fuel industries regionally during the next three years, as investors are investing in the energy sector The green zone is due to the ports that serve this industry and the availability of its specialized berths for handling liquid bulk, in addition to its willingness in the coming period to provide green fuel catering services for ships in the near future, in addition to the availability of new and renewable energy sources that serve these projects in coordination and cooperation with the Ministry of Electricity.
The head of the Economic Authority indicated that the zone is targeting industries that complement and feed green hydrogen industries, as the economic zone seeks to localize the industries of solar panels and air turbines, and maintenance dedicated to this sector, to increase the investment return from this industry, as attracting investment in different forms depending on each industry and each region and its requirements.
The participation of the Economic Zone during this forum comes as part of the effective and fruitful cooperation with the sisterly United Arab Emirates, which was recently represented in a number of memoranda of understanding related to the production of green fuels in conjunction with the Cop27 global climate conference held in Sharm El-Sheikh next November, which is “AMIA Power”. An affiliate of the Emirati Al Nowais Group to produce 390,000 tons of green ammonia annually in the Sokhna area, and the UAE “Masdar” in alliance with “Hassan Allam”, which aims to produce 480,000 tons of green hydrogen, and the UAE “Alcazar”, an industrial complex that aims to produce 280,000 tons annually of Green Fuel and K&K targeting production of 230 tons per year.