The board of directors of the Suez Canal Economic Zone (SCZone), headed by Mohab Mamish, approved the project “Boshret Kheir” for small and medium enterprises (SMEs) in west Kantara on an area of 1 sqkm, which will be offered to youth, especially from cities in the Suez Canal and Sinai regions.
This came during a meeting of the board of directors of the SCZone, in the presence of Mamish, chairperson of the SCZone Authority; Transport Minister Hisham Arafat; Investment and International Cooperation Minister Sahar Nasr; and Planning Minister Hala Al-Saeed.
The board approved the project submitted by the Union of Small and Medium Industries to establish industrial parks for SMEs in the industries of textiles, garments, packaging materials, and electrical tools, and another for the engineering and medical supplies industries, said Mamish.
Abd El Kader Darwish, vice president of the Northern Region of the SCZone, revealed the project will is divided into three phases.
The first phase covers an area of 300,000 sqm, which includes the completion of the infrastructure of the project and the establishment of complexes, to be completed by 2020.
In 2022, the third phase will begin and will be on an area of 400,000 sqm and will end in 2024. The total value investments of the project’s three phases is EGP 1.2bn and it is expected to be fully complete within six years.