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Sunday, 19 March 2023

Four companies open new logistics zones, factories in SCZone

New logistics zones, factories in the SCZone: Mercedes-Benz, local shipping firm Kadmar and two Chinese companies inaugurated new logistics zones and factories in the Suez Canal Economic Zone on Thursday.

#1- New Mercedes hub to handle 12k cars annually: Mercedes-Benz opened a new EGP 35 mn logistics zone in the SCZone to serve as a warehouse and a distribution platform for cars and spare parts, cabinet said in a statement. The facility can handle up to 12k cars annually.

#2- An expanded Chinese fiberglass plant: Jushi Group inaugurated a new USD 320 mn production line at its factory in China’s TEDA trade zone, cabinet said in another statement. The line has an expected output of 200k tons annually, and increases total investments in the factory to USD 920 mn.

#3- And a new Chinese textiles factory: The Egypt Fanyang Textile Company — also located in the TEDA zone — inaugurated a USD 60 mn factory, cabinet said. The facility is specialized in producing fabrics for clothing, blankets and home furniture, and is expected to produce 30k tons of fiberglass annually, generating revenues worth USD 150 mn.

#4- Kadmar opens logistics zone: Private-sector shipping company Kadmar has opened a USD 20 mn logistics zone that will handle shipping containers, store goods and prepare products for export, according to a separate statement. Plans to expand the facility are expected to increase its cost to USD 35 mn.

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