The Suez Canal Economic Zone (SCZONE) signed a EGP 1 billion usufruct contract on Monday with the Main Development Company (MDC) to develop pre-built factories in the West Qantara industrial zone. The project covers a total area of 200,000 square metres to provide ready-to-operate facilities for investors, with completion scheduled within 36 months.
The Suez Canal Economic Zone (SCZONE) has entered into a EGP 1 billion usufruct agreement with the Main Development Company (MDC) to construct pre-built factories in the West Qantara industrial zone. This initiative targets the development of 200,000 square metres of ready-to-operate facilities for investors, structured in two phases: each spanning 100,000 square metres with an EGP 500 million investment and an 18-month delivery timeline, leading to full completion in 36 months.
The contract was signed by Mustafa Sheikhoun, SCZONE's Vice President for Investment and Promotion, and Walid Youssef, MDC's Managing Director. SCZONE Chairman Walid Gamal El-Din, who attended the signing, emphasized the project's focus on supporting small and medium-sized enterprises (SMEs). He stated, "The ready-to-use factories are designed to meet increasing demand in the West Qantara region for sectors including textiles, ready-made garments, food processing, agricultural manufacturing, and woven medical supplies."
Gamal El-Din highlighted that this partnership with MDC, serving as the authority's development arm, builds on prior projects in Sokhna. The West Qantara industrial zone boasts competitive edges, such as access to trained technical labour and diverse energy sources at affordable rates, enhancing its appeal for industrial growth.