- Walid Jamal El-Din said, “The agricultural enrichers industry holds significant importance within the targeted industrial sectors.”
- El-Kammah stated, “The SOKHNA 360 project is striking a balance between delivering appealing investment returns and fostering positive community impact, all the while embracing initiatives for carbon neutrality and zero emissions in the environment.”
United Arab Emirates – November 2023
Mr. Walid Gamal ElDien, Chairman of the Suez Canal Economic Zone Authority, witnessed the signing of an industrial land allocation contract between Elsewedy Industrial Development, a subsidiary of Elsewedy Electric Company, and Futurefert, owned by the Emirati Sharkia Holding Limited, the signing ceremony of which took place at the SCZONE pavilion at COP28, aims at producing agricultural enricher materials on an area of 127 thousand sqm within the “SOKHNA360” project.
The contract was signed by Engineer Mohamed AlKammah, CEO of Elsewedy Industrial Development, and Mr. Mohamed Nour, Managing Director of Futurefert Egypt. The cooperation between the two parties aims for Futurefert Egypt to invest up to 50 million USD for the first and second phases of the project to establish an agricultural enrichment complex using the latest manufacturing technology according to European Environmental Standards and compatible with the latest environmental regulations and global standards.
Situated within the strategic location of SOKHNA360, part of the Suez Canal Economic Zone, the project benefits from unparalleled connectivity, enabling efficient export to Europe, Asia, and Africa. The economic zone’s economic incentives and advantages further enhance the project’s viability for exporters.The site of SOKHNA360 Industrial City in the Suez Canal Economic Zone was chosen for its geostrategic location that facilitates exporting to various continents such as Europe, Asia, and Africa, in addition to the economic incentives and benefits offered by the Authority to exporters.
The factory aims to produce at least 300,000 tons of agricultural enrichments in the first phase that aligns with the green and environmentally friendly solutions in the fully integrated industrial zone, through the use of the latest manufacturing technologies that reduce emissions by 90%, and recycle industrial waste. In this matter, this promising cooperation is a major step towards achieving the green transition in support of national and international initiatives, which also aims to create 500 new job opportunities.
Regarding this promising cooperation, Mr. Walid Gamal ElDien, Chairman of the Suez Canal Economic Zone, expressed the importance of the agricultural industry as one of the major industrial sectors targeted by the Authority. The manufacture of agricultural enrichments plays an effective role in achieving long-term sustainable development, which is in line with the support of the Suez Canal Economic Zone for the transition to a green economy and industrial practices that support sustainable activities.
In his statement, he emphasized that the Suez Canal Economic Zone offers a comprehensive set of both direct and indirect investment incentives to support investors. The seamless coordination between ports, industrial zones, and logistical hubs has positioned it as the optimal choice for projects aiming at exporting to diverse markets. This preference is attributed to the economic zone’s strategic geographical location, coupled with the substantial value contributed by its infrastructure and port enhancements. He stressed that, from its inception, the primary objective of the economic zone has been to establish competitive industrial complexes capable of satisfying the demands of both local and neighboring markets.
Engineer Mohamed AlKammah, CEO of Elsewedy Industrial Development, expressed his happiness regarding the auspicious collaboration with Futurefert and Sharkia Holding Limited, stating: “This partnership aligns seamlessly with the sustainability vision of SOKHNA360 Industrial City, striking a harmonious balance between appealing returns on investment and fostering positive impacts on the surrounding communities and environment. Moreover, it reflects a commitment to environmental considerations, actively contributing to carbon neutrality and zero emissions initiatives—a pivotal component of sustainable development that aligns with Egypt’s 2030 Vision and the 2035 Energy Strategy.”
He additionally presented a comprehensive overview of the project, emphasizing its dual focus on both the localization and exportation of industries, as well as the promotion of environmental sustainability.SOKHNA360 extends over an area of 10 million sqm to meet the needs of all manufacturers and investors. The city has 700,000 sqm of natural and green spaces, and the industrial area is on an in-progress space of 5.7 million. The central irrigation axis factory (Pivot Irrigation) has been operating efficiently and at full capacity, which is the first of its kind in Egypt to maximize value added and achieve self-sufficiency. In addition, there are a vast number of projects in process at the region which represent a valuable opportunity for investors due to the advanced smart facilities and services it includes, as well as the excellent location.
Worth mentioning that the “Pivot Irrigation” central axis factory has been successfully operational at full capacity. It stands as the first of its kind in Egypt, dedicated to maximizing value-added and achieving self-sufficiency. Additionally, a significant number of projects are underway in the area, presenting a valuable opportunity for investors. This is attributed to the advanced smart facilities and services integrated within SOKHNA360, along with its excellent strategically advantageous location.
Mr. Mohamed Nour, Managing Director of Futurefert Egypt, expressed his pride of the recent collaboration with Elsewedy Industrial Development. He affirmed the company’s ongoing commitment to partnering with industrial developers who share a common vision in building an integrated and sustainable industrial community. This shared vision aims to drive the green transition, mitigate pollution, and reduce the carbon footprint, ultimately contributing to a healthier environment and benefiting the Egyptian economy.
Mohamed Nour added that the project is an extension of Futurefert’s strategic approach of repurposing secondary products and manufacturing waste in the creation of new agricultural fertilizers. This initiative yields a dual benefit of waste reduction, support for agriculture, and the enhancement of the value of agricultural products.
It is noteworthy that the signing ceremony occurred at the Green Zone within the Suez Canal Economic Zone, during the COP28 climate conference. The event is currently witnessing significant activity and an intensive program to showcase investment opportunities and engage in discussions about the transition to a green economy.