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Intro Group signs land use agreement for $450M Kemet Data Center in SCZone

This facility, with an investment of $450 million, aims to provide cloud solutions, IoT services, and digital transformation support.

By: Business Today Staff

Tue, Nov. 5, 2024

Intro Holding Group has signed a land use agreement in the integrated industrial zone of Sokhna, part of the Suez Canal Economic Zone (SCZone), to establish the Kemet Data Center. This facility, with an investment of $450 million, aims to provide cloud solutions, IoT services, and digital transformation support.

Prime Minister, Mostafa Madbouly, emphasized the pivotal role of data centers in driving Egypt’s digital development in line with Egypt Vision 2030.

This vision seeks to position Egypt as a regional and global hub for innovation and technology.

He noted that the government is working through its various agencies to create an investor-friendly environment in the data center sector by simplifying procedures, offering incentives, and prioritizing the training of qualified national professionals for this critical industry.

Chairman of SCZone, Walid Gamal El-Din, highlighted data centers as a key service sector being actively attracted to the zone, responding to the growing demand for cloud services, IoT, and digital transformation.

He described this project as the first of its kind in the SCZone, aiming to localize a crucial service industry.

This strategic advantage is expected to boost foreign investment in the zone in the coming period.

 Chairman of Intro Holding Group, Mamdouh Abbas, noted that the Kemet Data Center will play a vital role in advancing Egypt’s digital transformation goals in line with its 2030 strategic vision.

He added that the center will elevate Egypt’s position in the cloud services sector by providing state-of-the-art services and advanced technical solutions.