The Suez Canal Economic Zone (SCZONE) announced on Monday the signing of a contract to allocate a plot of land estimated at 30,000 square metres for Japan’s Torishima company to establish an industrial complex for manufacturing and maintaining huge water pumps to serve water-desalination and treatment plants.
The plot of land lies in Sokhna Industrial Zone near Elsewedy Industrial Development developer inside SCZONE, said a statement issued by SCZONE.
The contract stipulates that the Japanese company invest about $5 million to establish giant plants to serve the water projects in the area and support the local industry.
According to the statement, Elsewedy Industrial Development developer works on luring foreign investments to Egypt and is a strong supporter for Japanese investments in Egypt.
Torishima CEO Alister Flett praised facilitations offered to his company to work in Egypt and establish a service centre to train Egyptian cadres on the company’s activities.
For his part, SCZONE chairman Walid Gamal Eddin said co-operation with the Japanese side would promote joint partnership and attract more investments to the zone.
Torishima Pump Mfg. Co., Ltd. is a pump manufacturer founded in 1919 with the theme of “Save the world with a pump”.