The Board of Directors of the Suez Canal Economic Zone (SCZone) has approved the establishment of four new logistic projects in SCZone-affiliated ports.
The first project concerns the integrated logistic area in East Port Said zone by the Roots-Rosa Greens consortium to establish a dry bulk station for grain handling and a logistics zone for value-added operations.
The cumulative investment of the project is about $10 million for the first stage, located on an area of 400,000 square metres.
The Board has also approved the expansion of the Suez Canal Container Terminal for an increase of 955 metres and a yard expansion of 510,000 square metres, with cumulative investments estimated at $500 million.
In the same context, the Board of Directors has greenlit the establishment of a multi-purpose terminal for the consortium of Sky Investment-Ryleins Logistics in East Port Said.
The project includes the establishment of a 900-metre-long station and trading yards of 380,000 square metres, with estimated investments of about $65 million.
As for Sokhna port, the Board of Directors has endorsed procedures for the execution of the agreement with the Hutchison-COSCO-CMA consortium for the construction, management, and operation of a new container terminal in Sokhna port.
The project includes working on a 1,200-metre long berth with an area of 720,000 square metres in the first stage; the second phase will expand the berth to 1,400 metres with an area of 840,000 square metres.
SCZone has finally announced the approval of providing five-year residency permission to foreign investors.
“I want to express my gratitude to be among the board members of SCZone, as everyone exerted a great effort in pushing SCZone forward,” said Waleid Gamal El-Dein, Chairman of the General Authority for SCZone.“I also appreciate Eng. Yehia Zaki, the former chairman, efforts whether in ports or industrial zones for improving the business climate in SCZone during the past three years.”
In May, SCZone signed six Memoranda of Understanding (MoU) with global leaders in the field of clean and renewable energy for investments worth $10 billion to produce green fuels.
Under the agreements, new industrial facilities and complexes in Sokhna zone will be established to produce green fuel and use it for ship bunkering purposes or export to foreign markets.
Source: Port Technology