Egyptian Prime Minister Dr. Mostafa Madbouly has witnessed the signing of a landmark contract for the development and usufruct transfer of a 2.86-square-kilometre plot of land in the Ain Sokhna Industrial Zone, marking a significant step forward in Egypt’s ambitions to become a regional manufacturing and logistics hub.
The agreement, sealed during a formal ceremony at the government headquarters in New Alamein City, involves the General Authority for the Suez Canal Economic Zone (SCZone), the Main Development Company (MDC), and TEDA Egypt for the Development of the Special Economic Zone.
It builds upon TEDA Egypt’s near-completion of a previous 7-square-kilometre land allocation, bringing its total developed area in Sokhna to nearly 10 square kilometres.
Lieutenant General Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, attended the event alongside high-level representatives including Walid Gamal El-Din, Chairman of SCZone; Rear Admiral Walid Youssef, MDC Managing Director; and Wei Jin Cheng, General Manager of TEDA China Africa and Board Member of TEDA Egypt Group.
The agreement commits TEDA Egypt to invest $100 million in infrastructure development for the new land, with the goal of attracting diverse industrial investments and advancing the vision of a sustainable, integrated industrial community in the Suez Canal corridor.
Prime Minister Madbouly emphasized the strategic value of the partnership, stating, “The Suez Canal Economic Zone has proven its capability to be one of the region’s most vital industrial and logistical hubs.
This cooperation accelerates our goals of localizing industries and creating job opportunities through strong partnerships with both local and international private sectors.”
SCZone Chairman Walid Gamal El-Din described the deal as a milestone in the authority’s broader development strategy.
“This agreement reflects our commitment to maximizing the investment potential of Sokhna and reinforcing our vision to localize and deepen manufacturing across the zone,” he said.
He highlighted TEDA Egypt’s impressive track record, citing more than $4 billion in Chinese investments drawn to the zone over the past three years.
“The trust and shared objectives between our two sides lay a strong foundation for doubling these figures in the years ahead,” he added.
The latest expansion is expected to serve as a new platform for attracting additional Chinese firms, particularly those aiming to use Sokhna as a launchpad into regional and international markets.
The development aligns with SCZone’s mission to offer an enabling environment backed by robust infrastructure, regulatory facilitation, and strategic location advantages along the global trade route.
About The Author
