Indian manufacturers from various sectors, including steel, have shown keen interest in launching projects in Egypt to tap into both local and international markets, according to a statement released by the Suez Canal Economic Zone (SCZONE).
India’s Jindal Steel & Power has highlighted its intent to establish an export-oriented iron and steel complex in the Sokhna Industrial Zone. The proposed complex aims to achieve a production capacity of five mln tons per year and will be developed in two phases across an expansive area of five to seven mln square meters (sqm). The project will encompass facilities for green steel production, green energy generation, and hydrogen manufacturing.
Sonalika International, a leading tractor manufacturer with a global presence, has also expressed its desire to establish a foothold in East Port Said for the purpose of exporting its products to local, regional, and European markets.
In addition, the Shapoorji Pallonji Group, known for its involvement in construction and infrastructure projects, has exhibited interest in developing an industrial complex within the SCZONE. The group aims to target Indian companies through a partnership model and also intends to contribute to the region by constructing desalination plants.
The growing interest from Indian manufacturers signifies their recognition of Egypt’s strategic location and business potential. These potential investments have the potential to bolster trade and economic cooperation between the two countries while creating new avenues for growth and development within the Suez Canal Economic Zone.
