SCZone’s Board of Directors also approved the establishment of a project for the the Arab Company for Drug Industries and Medical Appliances (Acdima) to set up a factory with $165 million investments.
The Suez Canal Economic Zone (SCZONE) signed a cooperation protocol with a Dutch consortium and Rotterdam city to attract investments in establishing green hydrogen production plants and facilities.
The produced green fuel will be used for supplying all kinds of vehicles. In addition to transporting and exporting green fuels, to European markets through dedicated pipelines, that’s achieving Egypt’s vision of reducing carbon emissions and developing the green fuel derivatives sector. According to this protocol, the Dutch government will provide technical support for studies on these projects.
SCZone’s Board of Directors also approved the establishment of a project for the the Arab Company for Drug Industries and Medical Appliances (Acdima) to set up a factory with $165 million investments. The factory will span over an area of 85 thousand square meters.
The company aims to produce 28 active substances used in the pharmaceutical industry, this comes within the SCZone’s strategy to localize the manufacture of active substances for pharmaceuticals.
The project is divided into two phases, the first has investments worth $101 million, and it is expected to start operating in 2026 to produce 21 active substances, and the second phase with investments of 64 million dollars to manufacture the remaining 7 pharmaceutical substances scheduled to come online in 2030.
The factory will operate in partnership with SCZone’s joint-stock investment company named Istithmar marking the company’s first endeavor.
