Egypt offers dedicated cluster to Indian firms at Suez Canal Economic Zone

Egypt is prepared to offer India an exclusive industrial and logistics hub cluster, which will serve as a strategic gateway for New Delhi to expand its market reach, said Waleid Gamal Eldien, Chairman of the Suez Canal Economic Zone (SCZONE).

The Suez Canal economic zone is a strategic location for India to reach markets in Europe, Africa, and the Middle East.

The economic zone has six ports, two dedicated to Russia and one to China. “Egypt is willing to offer India a dedicated hub in the SCEZ,” Indian financial daily Economic Times reported, citing Eldien.

Indian Prime Minister Narendra Modi will begin a two-day official visit to Egypt from June 24.

SCZONE signed a framework agreement with Indian company ACME on Wednesday to start construction on a planned green hydrogen project in Sokhna in early 2024.