SCZone Inks Deal with Fotouh AlKuwait for Sokhna Industrial Project
Deal News | May 08, 2025 | Zawya
The General Authority for the Suez Canal Economic Zone (SCZone) has joined forces with the Main Development Company (MDC) to facilitate a project by Fotouh AlKuwait Co focused on producing packaging materials. The project, requiring an investment of $1.7 million, will be established over a 10,000 square meter area within the Sokhna Industrial Zone. It is anticipated to create 30 jobs initially. SCZone's Chairman, Waleid Gamal El-Dein, expressed that this development is pivotal in accelerating SCZone's strategic objectives, notably augmenting local manufacturing, localizing supply chains, and promoting export ambitions with 90% of the output aimed for overseas markets.
Sectors
- Manufacturing
- Economic Development
- Logistics and Export
Geography
- Egypt – The project is located in the Sokhna Industrial Zone and is part of Egypt's broader economic development initiatives.
- Middle East – Fotouh AlKuwait's participation highlights cross-regional investment within the Middle East.
Industry
- Manufacturing – Relevant due to the project's focus on producing packaging materials.
- Economic Development – The project aligns with SCZone's goals of attracting investment and localizing supply chains.
- Logistics and Export – The project's proximity to Sokhna Port ties to its export-oriented objectives.
Financials
- $1.7 million – The total investment amount for the packaging materials project.
- EGP 86 million – Equivalent investment amount expressed in Egyptian Pounds.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| SCZone (Suez Canal Economic Zone) | Facilitator | Government | Provides economic infrastructure and development in the Suez Canal area. |
| Main Development Company (MDC) | Facilitator | Company | Collaborates on the development of industrial projects within SCZone. |
| Fotouh AlKuwait Co | Target Company | Company | Initiating a project to produce packaging materials in the Sokhna Industrial Zone. |
| Waleid Gamal El-Dein | Chairman | People | Chairman of SCZone, emphasizing the importance of the project. |