As part of the ongoing promotional plan for the Suez Canal Economic Zone (SCZONE), a delegation led by Mr Waleid Gamal El Dien embarked on a productive visit to the Indian capital. Accompanied by esteemed industrial developers, including Eng. Amr El-Batriq, CEO of Orascom Industrial Parks, Eng. Mohamed El-Kammah, CEO of El Sewedy Industrial Development Company, and Mr Diaa Rushdi, Director of International Business Development at East Port Said Development Company, the delegation engaged in extensive meetings and conferences with several Indian companies. The aim was to explore avenues of cooperation in industrial sectors of mutual interest.
The meetings kicked off with a focus on new energy companies. The delegation met with Mr Sandeep Kashyap, Chief Operating Officer of ACME, an Indian company that had previously signed a memorandum of understanding with SCZONE regarding the production of green fuel. The project, set to occupy a sprawling 4.5 million square meter area in Sokhna, aims to produce an impressive annual volume of 2.2 million tons of green hydrogen. The productive pilot phase will produce 100,000 tons annually, with plans to reach a production capacity of 2.1 million tons per year during the project’s first phase. The two sides solidified their collaboration by signing a framework agreement, paving the way for the project’s construction phases to commence in early 2024. This venture signifies a significant step towards sustainable energy solutions.
The delegation also met with Mr Harshit Gupta, Head – of Business Development (B2B) of Sterlite Power Transmission Limited, which specializes in the field of infrastructure for power transmission and distribution as well as the establishment of networks for transmission and distribution of electricity. The Indian company representatives expressed a desire to invest within the industrial zone in Sokhna and The objective of the discussion was to explore business opportunities to invest in the BOOT model in the Transmission sector in Egypt’s power sector and SCZONE.
Furthermore, Mr Vellamvelly Muraleedharan, State Minister for Foreign Affairs, welcomed Mr Wael Hamed, Chairman of SCZONE, along with the accompanying delegation. The purpose of their meeting was to discuss various aspects of cooperation between the two sides, emphasizing the shared economic interests and the strong support from the political leadership of both countries. The potential for increased Indian investments in Egypt was also a key topic of discussion.
During the promotional tour, the delegation engaged in extensive meetings, including a fruitful encounter with Mr Siddharth Malik, Chairman of the Jindal Steel & Power Group. The group expressed their desire to establish an industrial complex for iron and steel production, with a remarkable annual capacity of 5 million tons for export to international markets. The industrial complex, planned for implementation in two phases within SCZONE, will cover an area ranging from 5 to 7 million square meters in the Sokhna industrial zone. The project aims to pioneer Green Steel production and also includes plans for the production of green energy and hydrogen supplies.
Mr Waleid Gamal El-Dien also had a fruitful meeting with Mr Bala Subramanian, the regional president of the Shapoorji Pallonji Group. Known for its expertise in the development of industrial zones, construction, infrastructure, real estate, and various other fields, the group expressed its interest in investing in multiple sectors within SCZONE. The regional president highlighted potential opportunities for cooperation, particularly in establishing water desalination plants to support existing projects, providing green bunkering services, and collaborating on the development of an industrial zone that may incorporate an industrial complex for Indian investments.
The SCZONE delegation’s productive meetings and engagements in India highlight the mutual interest and commitment of both countries to strengthening economic bonds and attracting investments. The partnerships forged during this visit hold tremendous potential for driving industrial growth, promoting sustainable energy solutions, and fostering bilateral cooperation between Egypt and India.