The head of the Suez Canal Authority (SCA), Mohab Mamish – press photo
CAIRO – 26 June 2018: A cooperation protocol was signed Monday between the Suez Canal Economic Zone (SCZone) and the Kuwaiti Agility Logistics to establish a $100 million logistics center in East Port Said.
During the signing ceremony, Chairman of the Suez Canal Authority Mohab Mamish affirmed the importance of logistics areas in promoting investment opportunities in the economic zone.
The Egyptian economy will witness the expansion of logistics zones that provide services of investment companies in the coming period, he added.
Mamish also stressed the importance of infrastructure to attract more investments, noting that the economic zone includes six ports that need such services.
"We will focus on the provision of logistics services over the next four years", he added.
Mamish expected the new logistics center to be operated in mid 2020.
Agility CEO Tariq Sultan said the SCZone will become the most important economic zone worldwide thanks to its unique geographical location.
He predicted that the SCZone will enjoy special importance to international companies, especially after the growth of the global demand for trade.