The Suez Canal Economic Zone (SCZONE) signed an agreement with Indian company FerroGenesis to establish on 35,000 square meters with an investment of $5 million.

This Factory will be the first project in Wadi Al-Technologia in the East Ismailia Industrial Zone, and expected to create 150 direct jobs.

The agreement was signed by Walid Gamal El-Din, Chairman of SCZONE, and Chinmay Kumar Sahu, Chairman of FerroGenesis.

This initiative is part of three planned projects in the metal industries sector by Volkov, with total anticipated investments of $65 million.

 El-Din emphasized that this initiative underscores SCZONE’s commitment to developing Sinai, a strategic and historically significant part of Egypt.

The upcoming projects will generate direct and indirect employment opportunities for Sinai’s residents, supporting the government’s broader economic and social integration plans.

 El-Din revealed that two more agreements with Volkov are expected to be signed in the coming months, bringing total investments in the metal industries sector to $65 million.

Wadi Al-Technologia spans 72 square kilometers and is designed to host industries that leverage the region’s natural resources, such as silica sand, to build a high-tech industrial ecosystem.

 SCZONE aims to establish a fully integrated industrial community that fosters synergy between investment, education, and research.