The Suez Canal Economic Zone (SCZone) signed on November 7 contracts for new projects worth USD 40 bn of investments with local and international companies, Al-Ahram Arabic news website reports.

Signed at the World Youth Forum, the seven deals include a contract inked with ARDIC for Real Estate Development and Investments, ASEC for Engineering and Management, and Polaris Al Zamil Industrial Park Company for the industrial development of 5.5 mn square meters of land in Ain Sokhna.

An agreement was also signed for the USD 500 mn financing of Sonker Bunkering Company and DP World Sokhna’s liquid bulk terminal at Ain Sokhna Port.

The forum was held from November 4 to 10 in Sharm El-Sheikh.