Japan decided to pour direct investments of $10 million to launch a new industrial complex in Suez Canal Economic Zone (SCZone), according to Ibrahim El-Araby, Chairman of the Egyptian-Japanese Business Council.
The complex will be built over 20,000 square metres (sqm) and is expected to create about 1,500 jobs, El-Araby said in a statement.
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Factories in the planned complex will be dedicated for manufacturing Japanese sanitisers and cosmetics in Egypt as per the Japanese standards, he noted.
An agreement was signed between Japan’s Saraya Co and Hassan Allam Holding for the establishment of the project.
