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EPSC in talks with five foreign companies to set up enterprises in SCEZ

Thursday 06 December 2018 12:20 AM

East Port Said Port
East Port Said Port

By Doaa Mahmoud
East Port Said Company, seeking to execute a number of enterprises in East PortSaid Industrial Zone, is holding talks with five foreign companies. 
" Among the foreign companies is a Poland-based firm  manufacturing a specialty blocks," managing director of EPSC Eng. Samah Attia told Al-Mal newspaper, adding that EPSC has handed out plots of lands to German and Polish investors to build projects there. 
Falling within efforts to develop and upgrade zones of the Suez Canal Economic Authority, EPSC awarded recently two contracts worth EUR70mln to two companies. 
 EPSC has received 50,000 sqm out  of a total of 16mln sqm, and will get new lands estimated at 350,000 sqm next week, he said. 
The renovations are planned to be carried out over a ten-year duration and up to 4mln sqm are slated to be received by EPSC during the next six months, he said, attributing the Egyptian investors' reluctance to take part in the projects of the East Port Said's Suez Canal Economic Zone to the fact that the lands are offered on usufruct basis. 
EPSC, an industrial developer operating in SCEZ, has been incorporated as a result of  partnership  binding the Egyptian state with the private companies of the Industrial Development Group - Hassan Allam and Samcrete Egypt.