Suez Canal Economic Zone inks deals to boost logistics, clean energy

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.

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