General Authority for Investment and Free Zones (GAFI) CEO Hossam Heiba Saturday inspected the Suez Public Free Zone to follow up on ongoing expansion of firms operating there and means of facilitating their operations.
Suez governorate comprises three public free zones located in the areas of Port Tawfiq, Aladabiah and Ataka, in light of their distinguished geographic location as a southern gateway for Suez Canal and their richness in natural and human resources.
During his tour, Heiba discussed with Governor of Suez Governorate Abdel Majed Sakr a plan to set up a new investment zone for small-sized and feeding industries at the Suez Canal Economic Zone (SCZONE), according to a statement issued by GAFI Saturday 17/02/2024.
The CEO of GAFI inaugurated a new production line for Galaxy Chemicals Egypt in Ataka’s free zone with a investment cost worth 5.5 million dollars, which is envisaged to contribute to boosting Egypt’s petrochemical exports as well as the foreign currency return.
During a visit to facto
ries of “BEAM Consolidated”, which a leading manufacturer of smart and efficient finishing building materials, Heiba probed with its CEO Felix Moral the expansion plans of the group to develop eco-friendly building material and increase share of exports from 30 percent to 50 percent of its total production in the upcoming years.
Source: State Information Service Egypt