Saudi company alfanar aims to establish two factories to produce circuit breakers and electric cables at the Suez Canal Economic Zone (SCZone), with total investments estimated at $200m.
The company has discussed with officials of SCZone the details of the planned projects, Jamal Wadi, chief development officer of alfanar, told Daily News Egypt.
He added a feasibility study is currently conducted by consultants of the company.
Last month, the company started operating a solar energy plant with a capacity of 50MW within the second phase of the feed-in tariff. It will sell the plant’s production to the Egyptian Electricity Transmission Company.
The company has participated in an industrial zone built on an area of 700,000 sqm in Saudi Arabia. The zone includes 18 different factories.
Mohamed Shaaban, the deputy chairperson of SCZone for the southern sector, said that the southern region includes a major industrial zone on an area of 209,000 sqm, in addition to three marine ports, which are El Sokhna, Al Adibeya, and El Tour, on an area of 24,000 sqm.
He added that the total number of companies in the region currently is 192, whether industrial or service. The total area of lands used for establishing projects in El Sokhna reached 81,000 sqm, accounting for 39% of the region’s area. The total lands under negotiation for new projects are estimated at 45,000 sqm, accounting for 22%.
Major General Mohamed Beraya, the deputy chairperson of the Northern region of SCZone, said that the area has three industrial regions built on 63,000 sqm and three marine ports. A road network was built on an area of 100km will be established to serve East Port Said and the Northern region of the canal.
Regarding the situation of the infrastructure and facilities in the industrial and logistical area and ports, Beraya said that operations are taking place to improve the soil of 14m sqm, and will be completed by the end of this year.