March 23, 2019
Admiral Mohab Mameesh, chairman of the Suez Canal Authority and Suez Canal economic zone, welcomed the representatives of the industry committee of the parliament today headed by engineer Mohamed Farag Amer and Mohamed Moustafa Sallab, vice of the committee, and other members. The meeting was held in the headquarters of the Economic Authority in Ain El-Sokhna during their third day of touring the region, which started with their visit in East Port Said in the northern region the Thursday before yesterday.
The aim of the visit was to discuss the progress of the projects, their infrastructure, and the requirements of the area and the investors, as this is considered of the important national projects that Egypt is currently witnessing with a rise in the developmental projects and investors.
During his talk, the Admiral thanked the president for his support and continuous follow-up on the work in the region which has enhanced the trust of the investors in this project.
The admiral assured that the economic region is one of the important universal sites and thus lots of attention is being paid to improve the infrastructure, building electricity stations, water purifier and providing these services for all the sites in the region.
During the visit, Moahmed Shaban Marei, vice president of the financial committee for the southern region, viewed a documentary on the southern region and what it includes over an area of 209 kilometres. It includes 3 ports El-Sokhna, El-Adabia, and El tor over an area of 24 square kilometres. He also viewed the main investors the area has attracted in the Petrochemical industry and fabric industry and also the building and the construction materials.
Lieutenant Shaban pointed that the sum of the corporations in the region is 192 and the used surface area of EL Ain El-Sokhna is 81 square kilometres making it 38% and that the area being negotiated on is 45 kilometres and the total land available for investments is 41 square kilometres, 20% of the total area.
After this, the Admiral joined the members of the committee in a tour of the projects during which they visited the Teda Suez for economic and industrial cooperation between Egypt and China. They also inspected the Jushi factory for fiberglass manufacture, Eldorado group one of the main developers in the area, Suez Industrial Development Company, Life factory for paper manufacturing and Saint-Gobain for glass manufacture that lies in the Suez Gulf Development Region.
The delegation visited El-Sokhna port and inspected the project for widening the third basin and building a new berth; they also inspected the construction of the new station for containers in the second basin that is being led by the China Harbour Corporation. This project aims to build 1300 metres of berth in the port and raise the potential for another 1.8 million containers bringing the total potential of the port to 2.9 million containers.
Lieutenant Alaa Abd El-karem, Advisor to the President of the Commission for Taxes and Customs, spoke about the tax incentives of the Authority.
The Teda corporation is considered one of the biggest industrial developers in the southern region over an area of 7.25 square km; over 7 years of development and constrictions the provisional stage of an area of 1.35 square km has been built and has become one of the best for financial and industrial cooperation projects between Egypt and China in Africa. Jushi, the Egyptian corporation for fiberglass manufacture that was constructed over an area of 146000 square metres is considered the second internationally for fiberglass manufacture, and the first in China With a total investment of 800 million dollars over 4 stages. The four stages have been completed with a sum of 600 million dollars of investments and an annual production of fiberglass reaching 230000 tonnes.
As for the Eldorado group, it has been working on developing an area of 11.87 million square meters of the Suez Canal financial region, with a total investment of 15.3 billion Egyptian pounds. It is specialised in the manufacture of ceramics and medical supplies and the annual production is estimated at 11.1 billion Egyptian pounds and the sum of the exported good is 6.75 billion pounds. The cooperation has managed to provide up to 14880 job opportunities.
As for the Suez cooperation for industrial development, one of the main developers in the region, it is working on developing an area of 8.7 million square metres of land in EL Ain El-Sokhna with a total investment of 65 billion Egyptian pounds. Through its propaganda, the cooperation has managed to attract a group of foreign and local investors reaching 60 industrial corporations providing a total of 15000 jobs directly and indirectly.
The Suez Gulf Development Region Corporation is also considered one of the biggest developers in the region and is working on an area of 5.2 square kilometres through 5 corporations and an area of 3.9 square km and providing 1560 jobs. The Saint-Gobain corporation for glass manufacture is one of the corporations holding the biggest manufacture line of glass in the middle east and Africa with a manufacturing potential of f900 tonnes a day that is equivalent to 20 million square metres annually of glass and is holding a French investment of 140 million Euros. The sum of the sales made of the corporation has reached 1 billion and 350 thousand Egyptian pounds. The growth rate of the sales in the past 5 years has reached 6%. The corporation is currently aiming to attract new investments in the region through constructing a new production line for mirrors with a total investment of 8 million Euros, and thus making use of the facilities that area provides for attracting investments through deals like the commission deal targeting the African market.