The signing ceremony between Torishima and Elsewedy Industrial Development. Cabinet.
The centre will serve the purposes of assembly, manufacturing, and supply of huge water pumps used for industrial and civilian purposes, such as water treatment and desalination plants.
The project will be located at the Industria Sokhna project in the SCZone, which is developed by Elsewedy Industrial Development, a subsidiary of Elsewedy Electric Group.
Situated on 1.7 million square metres, Industria Sokhna provides benefits to investors and manufacturers and a range of lucrative trade incentives such as exemption from customs duties and tax, fast-track visa, and licensing processing.
The SCZone board of directors approved 46 projects with $ 3.6 billion worth of investments between July 2022 and May 2023 in its industrial zones, said Walid Gamal El-Din, chairman of the SCZone.
Egypt seeks to raise the share of the private sector in the country’s GDP by attracting more investments and the provision of more facilities.