The General Authority for the Suez Canal Economic Zone in Egypt has signed five framework agreements with several private sector companies operating in various industrial sectors, with an investment value exceeding $195 million. The Chairman of the Authority, Walid Gamal El-Din, indicated that "the agreements include the possibility of the Authority contributing to feasibility studies as well as offering participation in these projects in exchange for land usufruct rights." He pointed out that these five agreements mark the beginning of around 50 agreements that have been negotiated.
The signed agreements include a framework agreement between the Suez Canal Economic Zone and the company “Dayra” for recycling, aimed at establishing a project targeting plastic recycling with an investment cost exceeding $15 million. Additionally, the Authority signed a framework agreement with “Orajlo Egypt” for manufacturing ready-made garments within the economic zone under a usufruct system with an investment cost exceeding $150 million.
The Authority also signed a framework agreement with “Jade Textiles” to establish a project in the field of spinning and weaving, with an investment cost exceeding $65 million across two projects. Furthermore, the Authority concluded two agreements to establish a pharmaceutical factory and another industrial project.
