The first German green logistics hub in Sokhna 360
Elsewedy Industrial Development inked an MoU with German chemical producer BASF to build a green logistics hub in Elsewedy’s Sokhna 360 industrial city, the companies said in a joint statement (pdf) Thursday.
Sokhna 360? It’s a 10-mn sqm industrial area of the Ain Sokhna industrial zone featuring residential units and commercial areas. It offers multinationals a number of incentives including full foreign ownership of companies, 100% foreign control of import and export activities, and full exemptions from customs duties and sales tax.
What they said: “BASF trusted that Sokhna 360 suited their aspirations to allocate their first green logistic hub, assuring the high standards of safety, technology, integration and sustainability.” said Elsewedy Industrial Development’s CEO Mohamed El Kamah.
ALSO AT SOKHNA 360- Elsewedy Industrial Development, Geocycle, and Lafarge Egypt will work together on managing construction and infrastructure waste from Sokhna 360 under an MoU signed on Friday, the companies said in a statement (pdf). Geocycle will be given the right to directly enter into agreements with factories at the industrial city “to safely and sustainably manage their industrial waste,” while Lafarge Egypt is set to provide cement or concrete that are eco-friendly for construction in the city.