Chairman of the General Authority for the Golden Triangle Economic Zone Mohamed Abady attended on Thursday the signing ceremony of the authority’s first industrial development agreement, with Elsewedy Industrial Development Company.
The deal aims to develop an integrated industrial and logistics zone covering six million square metres in Safaga.
Authority Vice Chairman Mohamed Ibrahim signed the agreement with CEO of Elsewedy Industrial Development Mohamed El-Qammah.
Attending the ceremony were Red Sea Governor Walid El-Barqy, CEO and Managing Director of Elsewedy Electric Ahmed Elsewedy, members of the Authority’s Board of Directors, representatives of Elsewedy Industrial Development and Taqa Arabia.
According to the agreement, Elsewedy Industrial Development will implement the project in three phases under a master plan to establish an integrated industrial and logistics hub specialising in complementary mining industries, mineral-based manufacturing, logistics, warehousing and export support services.
Strategically located near Safaga and Abu Tartour ports and connected to Upper Egypt through major road networks, particularly Qena, the project will facilitate access to domestic and international markets, attract new investments, maximise the value of mineral resources, strengthen supply chains, boost exports and create direct and indirect employment opportunities.
The agreement, the first developer contract signed by the authority, reflects the state’s commitment to strengthening private sector participation and accelerating industrial and investment development in Upper Egypt.
Zone Chairman Abady described the agreement as a major milestone in the development of the Golden Triangle, reflecting the authority’s efforts to complete the required regulatory framework and build partnerships with leading national companies to establish a competitive industrial, mining and logistics hub linking Upper Egypt to global markets.
He added that the project will apply international best practices through renewable energy integration, efficient resource management, expanded green spaces and modern environmental standards.
For his part, CEO of Elsewedy Industrial Development El-Qammah said the project will transform the region’s natural and logistical advantages into high-quality industrial and export opportunities by providing advanced infrastructure, integrated services and a sustainable operating environment.
He added that the vision extends beyond infrastructure development to creating a fully integrated industrial community linking manufacturing, logistics and technical training to increase the added value of mineral resources and support balanced economic development.
