India’s Jai Dadi Group plans to invest USD 16 mln to develop a ferro-alloys project in East Ismailia, Sinai, within the Suez Canal Economic Zone (SCZONE), the authority said.
The investment agreement for the Nile Ferro Alloys LLC project was signed by Waleed Gamal El-Dein, chairman of SCZONE, and Subhas Kumar Kedia, chairman of Jai Dadi Group, according to an official statement.
The project will be developed on 80,000 square metres in the Technology Valley of the East Ismailia Industrial Area and will produce ferro-silico-manganese and processed iron alloys, targeting demand from Egypt’s infrastructure, heavy engineering and railway sectors.
Jai Dadi Group, based in Kolkata, is an Indian manufacturer best known as a supplier of railway track components.
