The Chairman of the Suez Canal Economic Zone (SCZONE), Mr. Walid Gamal El-Din, signed an agreement today with Mr. Shanmay Kumar Sahu, Chairman of Indian FerroGenesis Company for Manganese Silica, to establish the first project in the East Ismailia Industrial Zone, known as “Technology Valley.”
Under the agreement, FerroGenesis, a subsidiary of the Indian company Volkov Infra Private Ltd., will set up a factory for the production of silico manganese and ferrosilicon—critical components in high-quality steel manufacturing.
The project, with an investment of $5 million (approximately a quarter of a billion Egyptian pounds), will be developed on a 35,000-square-metre site and is expected to generate 150 direct job opportunities. This initiative is part of a broader collaboration with Volkov Infra, which plans to establish three projects in the metal industries sector within SCZone, with total investments reaching $65 million.
During the signing ceremony, Mr. Walid Gamal El-Din emphasised the strategic significance of this project as a catalyst for attracting investment to the East Ismailia region, widely known as “Technology Valley” in Sinai.
He further highlighted that this milestone aligns with SCZone’s commitment to the development of Sinai, in line with Egypt’s Vision 2030. He credited SCZone’s sustained promotional efforts over the past 30 months—including extensive international investment tours—for successfully paving the way for industrial localization within the zone.
MrGamal El-Din also noted that additional agreements with Volkov Infra are expected in the coming months, bringing total investments in the region to over 3 billion Egyptian pounds. These projects will create significant employment opportunities for Sinai residents, both directly and indirectly.
SCZone’s initiatives are fully aligned with the Egyptian government’s broader strategy for Sinai’s development, which includes the establishment of New Ismailia City. He further stressed that the “Technology Valley” industrial zone serves as a key economic driver within this vision.
The region is supported by modern infrastructure, including the new Al-Ferdan Bridge, upgraded railway networks, the July 3 tunnels under the Suez Canal, and advanced power, desalination, and water treatment facilities.
Mr. Gamal El-Din stressed that the development of “Technology Valley” marks a significant step forward for SCZone integrated economic framework, which comprises four industrial zones and six seaports. This model is designed to connect manufacturing and production hubs with global markets, support international supply chains, and promote the localisation of strategic industries.
