East Port Said Development Company signed two usufruct agreements for two new projects within its industrial zone in East Port Said (EP), with “Avelon” and “Steel Con”, during a ceremony held at the General Authority for the Suez Canal Economic Zone. This step reflects the continuous investment flow witnessed by the region and confirms its success in attracting diverse productive projects that support the manufacturing sector and export growth in Egypt. The total investments of the two projects amount to approximately $29 million, and they are expected to provide 250 direct jobs and 70 indirect jobs, enhancing economic activity and supporting comprehensive development goals, Invest-Gate reports.
Signing Ceremony and Official Attendance
The two agreements were signed by Eng. Hossam Abdel Aziz, Managing Director of East Port Said Development Company, representing the company, Eng. Ahmed Fekry Abbasi, Executive Director of “Avelon”, and Eng. Marwan Shaarawy, Chairman of “Steel Con”. The signing ceremony was attended by Mr. Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone, Captain Mohamed Ibrahim, Deputy Chairman of the Authority for the Northern Region, Eng. Karim Sami Saad, Chairman of East Port Said Development Company, and Dr. Ahmed Fekry Abdelwahab, Vice Chairman.
Growing Attractiveness of East Port Said Industrial Zone
The signing confirms the growing attractiveness of East Port Said Industrial Zone as an integrated destination for local and foreign industrial investments, benefiting from its strategic location, integrated infrastructure, and direct connection to ports, transportation networks, and logistics services, enhancing its ability to serve local and global markets.
Avelon Project
The first project is the “Avelon” project, fully funded by Canadian investments and specialized in the production of technical textiles used in the construction materials sector, which is an advanced industry with high added value. The project’s expected investments amount to $27 million on a total area of approximately 35.8 thousand square meters. The project aims to export all of its production to the United States and European markets and will provide around 200 direct jobs and 50 indirect jobs.
Walid Gamal El-Din’s Remarks on “Avelon”
In this context, Mr. Walid Gamal El-Din confirmed that the “Avelon” project reflects the success of East Port Said Industrial Zone in attracting high-value, export-oriented industrial investments, noting that the region possesses integrated competitive advantages that make it one of the most promising industrial investment destinations in Egypt. He added that the integration between East Port Said Industrial Zone and East Port Said Port, which has confirmed its position among the world’s leading ports in container handling, provides investors with major logistical advantages that help reduce transportation, shipping, and supply chain costs, while accelerating access to global markets. This enhances the competitiveness of products manufactured within the region and supports the Authority’s strategy aimed at localizing export industries and deepening industrial value chains.
Steel Con Project
The second project is the “Steel Con” project, an Egyptian company specialized in manufacturing construction products and related metal components. The project aims to support the needs of industrial projects within the region for various industrial products and components and strengthen integration among existing and future projects. The project’s investments amount to approximately $2 million on an area of 5,388 square meters and will provide 50 direct jobs and 20 indirect jobs.
Walid Gamal El-Din’s Remarks on “Steel Con”
In this context, Mr. Walid Gamal El-Din confirmed that supporting industries and industrial integration within East Port Said Industrial Zone are a key pillar for enhancing the competitiveness of the region and attracting more industrial investments. He noted that the “Steel Con” project represents an important addition to the industrial base in the region through the construction products and metal components it provides to support the needs of various industrial projects. He explained that the project contributes to enhancing the readiness of industrial infrastructure for current and future projects and supports the local availability of production requirements, positively impacting implementation efficiency and accelerating industrial expansion within the region.
Chairman’s Statement
In this context, Eng. Karim Sami Saad, Chairman of East Port Said Development Company, said: “The signing of these two projects represents a new milestone in the growth journey witnessed by East Port Said Industrial Zone and reflects the increasing confidence of local and international investors in the competitive advantages of the region. Over the past years, we have worked on developing integrated infrastructure according to the highest standards, and today we are witnessing the results of these efforts through the transition of projects into actual implementation and operation stages.”
He added: “The recent opening of the NERIC factory, along with the new projects being contracted today, confirms the success of the region’s long-term vision, which aims to build an integrated industrial system that supports manufacturing and exports and contributes to enhancing the competitiveness of Egyptian industry while attracting high-value investments.”
Managing Director’s Statement
For his part, Eng. Hossam Abdelaziz, Managing Director of East Port Said Development Company, said: “East Port Said Industrial Zone is witnessing increasing demand from industrial investors thanks to the readiness of infrastructure, facilities, and services, as well as its unique strategic location that allows easy access to global markets. We continue to work closely with investors to provide all necessary support and accelerate project implementation, transforming them into productive facilities that contribute to achieving the state’s industrial development goals.”
Avelon Statement
Eng. Ahmed Fekry Abbasi, Executive Director of Avelon, stated: “The Avelon project in East Port Said represents an important strategic step within our plans to expand into global markets, as the location provides the logistical and competitive advantages needed to support our export operations. This investment reflects our confidence in the investment climate provided by the Suez Canal Economic Zone and its ability to attract advanced industries with high added value. Through this project, we look forward to strengthening our presence in the American and European markets while contributing to supporting Egyptian exports, creating quality job opportunities, and transferring modern industrial expertise.”
Steel Con Statement
For his part, Eng. Marwan Shaarawy, Chairman of Steel Con, said: “This project represents a strategic pillar in the company’s journey toward expansion and institutional maturity, as it creates a qualitative transformation that strengthens our presence in the steel and construction industries market at both national and regional levels, alongside increasing our production capacity. Through this investment, we are establishing a strong presence within an integrated industrial environment, enabling us in the future to expand production lines and attract international technology partnerships, allowing us to become a major supplier for large national projects. This confirms our confidence in the investment and logistical advantages of East Port Said Industrial Zone. Through this project, we aim to meet the needs of the construction and industrial sectors for metal components, enhancing industrial integration and supporting efforts to localize industry and rely on local products.”
Importance of the Two Projects and Supporting Industrial Growth
The signing of the two projects comes at an important stage in the development journey of East Port Said Industrial Zone, following the actual operation of the first major industrial project in the region, the National Egyptian Railway Industries Company (NERIC) factory, which was recently inaugurated. This reflects the region’s official transition from the stage of infrastructure development and investment attraction to the stage of actual production, confirming its continued ability to attract diverse investments that combine foreign direct investment and local investment. This contributes to supporting Egyptian exports, strengthening supply chains, and creating new job opportunities, reinforcing its position as an integrated industrial and logistics hub within the Suez Canal Economic Zone.