RIYADH: Egypt’s Suez Canal Economic Zone has signed seven investment contracts across strategic industries, logistics, and clean energy as it seeks to attract high-quality investments and localize value-added industries.
The agreements include a $35 million project by global logistics firm Agility to establish and operate a logistics zone and regional distribution centers, creating 400 direct jobs.
They also cover a $300 million investment by China’s Zenith Group to manufacture automotive tire components and steel wire, with 30 percent of production earmarked for export to global markets.
The project is expected to create 1,000 direct jobs, according to a statement.
The remaining deals comprise two contracts related to the transmission, distribution, and purchase of clean electricity for projects in the zone, alongside three agreements covering logistics, warehousing, storage, and trading services to support businesses operating within the economic zone.
