The Suez Canal Economic Zone (SCZone) Authority will be partnering with Saudi Arabia’s ASIC Capital to develop six mn square meters of land plots and a granite city spreading on an area of one mn square meters in the zone, Invest-Gate reports.

Approximately 13 small projects are in the pipeline, while the authority will develop a city for manufacturing medicine on an area of two mn square meters. Nursing facilities, a medical city, and a steel company will also be established in the zone, according to SCZone’s annual report.

The construction tenders will be assigned to British, German, Indonesian, Malaysian, and Dutch investors, the report says.

It adds that the SCZone Authority has managed to market 23 mn square meters in one year, pointing out that there are more investments in the pipeline.