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Strategic Cooperation Between Attijariwafa Bank Egypt and Elsewedy Industrial Development to Stimulate Investments in Egypt’s First and Largest Integrated and Sustainable Industrial City “SOKHNA360”

Today, Mr. Moawia Essaghir, Managing Director of Attijariwafa Bank Egypt, and Eng. Ahmed Elsewedy, CEO and Managing Director of Elsewedy Electric, signed a three-year cooperation agreement between the bank and Elsewedy Industrial Development. The goal of this partnership is to provide and accelerate banking services for investors in “Sokhna 360,” an integrated industrial city in the Suez Canal Economic Zone. This city includes projects in strategically important sectors for Egypt, such as pharmaceuticals, chemicals, fertilizers, food, and beverages.

Mr. Moawia Essaghir, Managing Director of Attijariwafa Bank Egypt, expressed his happiness with this strategic partnership and emphasized the bank’s commitment to supporting economic development and enhancing the investment environment in industrial areas. He noted that this agreement is part of joint efforts to promote sustainable development, stimulate industrial investments, and drive economic growth in Egypt.

Eng. Mohamed Al-Qamash, CEO of Elsewedy Industrial Development, highlighted the importance of empowering clients and investors of Sokhna 360 with integrated banking solutions provided in cooperation with Attijariwafa Bank Egypt. He added that this collaboration reaffirms the company’s commitment to its clients by offering a new standard for investment through various financing solutions that help achieve clients’ goals of increasing production and exports.

 

Attijariwafa Bank Egypt will provide and facilitate the banking services needed by investors to implement their projects in “Sokhna 360.” This includes offering credit facilities, payment services, online banking services, treasury services, corporate banking services, trade finance services, and any other financial services within the bank’s activities.

Elsewedy Industrial Development is designing and developing the “Sokhna 360” project, which spans 10 million square meters. The project is being executed according to thorough studies in collaboration with elite global experts to ensure all essential requirements for establishing a sustainable, smart, and integrated industrial city that meets the needs of manufacturers and investors in the region. The project enjoys a strategic location on the Red Sea coast within the Suez Canal Economic Zone, which is a hub for domestic trade in Egypt and on major trade routes with Africa, Asia, Europe, and the Middle East and North Africa region. The project is characterized by its balanced, integrated, and innovative nature, serving as a destination for industrial, logistical, residential, commercial, and educational projects.

It is noteworthy that this cooperation is expected to achieve growth and expansion goals for the investing companies, enhance the economic infrastructure in Egypt by supporting investments, and provide an ideal business environment. It aims to implement the highest standards of sustainability to create and maximize economic and social benefits, leading to the development of various industrial sectors. This aligns with the strategies of Attijariwafa Bank Egypt and Elsewedy Industrial Development.

 

**About Attijariwafa Bank Egypt:**

Attijariwafa Bank Egypt was launched on May 3, 2017, after the group acquired all the shares of Barclays Bank Egypt S.A.E., which had been operating in the Egyptian market for over 150 years. The bank offers a wide range of banking services to retail, corporate, and SME sectors. The bank’s network includes 64 branches and 112 ATMs covering most cities and governorates nationwide. It employs over 1,200 highly qualified staff to serve a broad customer base of international, regional, and local companies.

**About Attijariwafa Bank Group:**

Attijariwafa Bank is a leading banking and financial group in North Africa and the West African Economic and Monetary Union, as well as a key player in the Central African Economic and Monetary Community. In addition to its banking activities, the group offers a wide range of financial services through its multiple subsidiaries, covering insurance, mortgages, consumer loans, fast transfers, leasing, factoring, brokerage, asset management, merger and acquisition advisory, and market consulting services.

**About Elsewedy Industrial Development:**

Elsewedy Industrial Development, a subsidiary of Elsewedy Electric listed on the Egyptian Stock Exchange under (SWDY.CA), specializes in establishing integrated industrial zones in the region. The company has a proven track record of developing integrated and sustainable industrial cities. Elsewedy Industrial Development is committed to developing the communities surrounding its operations by adopting the highest standards of sustainable development and adhering to ethical values and principles in all its operations and activities.

Additionally, the company provides a range of services, including planning and consulting, basic infrastructure works, construction management, engineering guidance, and design work. It offers investors a comprehensive suite of advanced industrial zone services, essential infrastructure, and extensive manufacturing facilities. Elsewedy Industrial Development holds a vast land portfolio in Egypt and Africa, making it the largest land portfolio owned by an industrial development company in Egypt. The company recently announced the establishment of a new industrial city on 6.2 million square meters in Tanzania.

“Sokhna 360” is the latest project of the company, an integrated industrial city on 10 million square meters, along with other projects such as Industria Sokhna, Industria Sadat, Industria New Alamein, Industria October, and Industria First in 6th of October City.