Hyflux, Mitsubishi Matoto and Toyota Tsusho is studying the establishment of power plants and water desalination stations in East Port Said, according to a report.
The memorandum of understanding (MoU) was signed with the Suez Canal Economic Zone (SCZone), said the Daily News Egypt report.
The East Port Said industrial area includes investment opportunities that make it a rising star among the other districts of the Suez Canal Area Development project, Ahmed Darwish, chairman of SCZone, was quoted as saying.
The 40 million-sq-m area will receive the highest number of requests for investment due to its vital location and will not be ready for the start of industrial projects for another two years due to the softness of the soil.
The current investment opportunities are in infrastructure projects, such as the establishment of power plants and desalination stations, since the region majorly lacks water sources due to its distance from the River Nile.
Meanwhile, the development process in East Port Said includes the establishment of a logistical centre on the area of 18 million sq m.
Source : tradearabia.com