Energy deals dominate Egyptian Economic Development Conference on Saturday

The international industrial and logistics centre will stretch across the three governorates of Port Said, Ismailia, and Suez and include six sea ports, says Yehia Zaki, managing director of Dar Al-Handasah Egypt, who is presenting details of the mega-project to the conference.

The project will require $15 billion to be spent on utilities, as well as 6 gigawatts of power, and will include three economic zones covering an area of 500 square kilometres as follows:

The East Port Said zone which will house a transshipment port and an industrial area of 40 square kilometres for light and medium industries. Crucially, it will include the new East Suez Port, the first phase of which has been completed.

The Qantara zone which will house food industries because of its proximity to agricultural land, SMEs, textiles industry, and housing and real estate.

The Ain Al-Sokhna zone which encompasses 80 square kilometres in north west Suez, and include a port which will act as Egypt’s gate to the GCC, connecting the Gulf with Africa and Asia. It will also include medium and heavy industries.

The Suez Canal Authority will invest in the Suez Canal Zone industrial and logistics hub, says Moheb Mamish, head of the authority.

Egypt will establish an authority to oversee the Suez Canal Zone on behalf of the state, to be regulated by the recently amended law for special economic zones.

The new body will be in charge of land allocation in the zone, act as a one-stop shop for investors in the zone’s projects, and will issue permits on behalf of the state, excluding permits related to the defence ministry or the justice system.