SCZONE signs $50 mn Egyptian-Saudi Techno Bond deal in Sokhna
A new $50 mn Techno Bond cladding facility in Sokhna will expand manufacturing, trade, and logistics links between Egypt and broader African markets.
Mr Moustafa Shaikhon, Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE), recently witnessed the official signing ceremony for a transformative Egyptian-Saudi joint venture in the New Capital. The Techno Bond project, situated within the strategic Sokhna Industrial Zone, is being developed under the primary scope of the industrial developer Main Development Company (MDC). This major agreement marks a pivotal milestone for industrial manufacturing, infrastructure, and cross-border logistics across the African continent.
Spanning an impressive footprint of 25,000 square metres, the project will launch with an initial financial backing of $18 million. Project authorities project that total capital investments will steadily scale up to reach $50 million as operational phases expand. Furthermore, the facility is anticipated to generate roughly 200 direct employment opportunities during its initial phase. Full operations and commercial production are officially scheduled to commence by the end of 2027, establishing a firm development timeline for regional industrial supply chains.
Commenting on the contract, SCZONE Chairman Moustafa Shaikhon stated that the Techno Bond project would "expand SCZONE's industrial base and support its strategy of attracting projects that deepen local manufacturing, localise industrial technology, increase the added value of locally manufactured products, and reduce dependence on imports."
He added that the initiative aims to "transfer and localise technologies used in the sector, support construction-related industries, and strengthen the competitiveness of Egyptian products in local and regional markets." Shaikhon further emphasised that SCZONE's competitive advantages support the establishment and expansion of industrial projects, noting that the authority would "provide investors with the necessary assistance to accelerate project implementation and the start of production."
From a logistics perspective, the complex will specialise in manufacturing cladding panels and aluminium coils using advanced techniques. By producing these vital materials locally, the project supports regional construction industries while reducing reliance on long-haul imports. Output from the Sokhna facility is targeted to meet growing demand across Arab and African markets, enabling manufacturers to streamline distribution and lower freight charges across the continent.
