The Suez Canal Economic Zone (SCZONE) today announced that it has signed a contract with Agility, a supply chain services, infrastructure, and investment firm, to develop and operate a customs and logistics center in the Suez Canal Economic Zone.
Agility will invest USD 60 million to build a 100,000 SQM customs and logistics center in the industrial zone in Ein Sokhna, as well as another 100,000 SQM customs and logistics centers in East Port Said. The project will be implemented during the second half of 2023.
Agility will work with SCZone to establish a technical and logistical arm that will automate customs processes and operations in SCZone. The automation piece will link SCZone’s customs departments and relevant government agencies concerned with inspection work.
“The signing of this contract today with Agility, a leader in customs modernization, is consistent with the Suez Canal Authority’s strategic plan 2020/2025, which aims to create an enticing investment environment and further one of Egypt’s key development goals, which is to create job opportunities through integrated, sustainable economic growth. This agreement comes in line with Egypt’s policies in developing the customs clearance services by building an integrated and automated system that raises the overall efficiency of customs operations, reducing the accumulation of shipments and goods, while providing the best services possible to investors. This in addition to the facilitated coordination and integration between the Ministry of Finance, tax and customs authorities as well as other government bodies with the economic zone,” Walid Gamal El-Din, SCZone’s Chairman, said.
The agreement with Agility was signed during the Egyptian-Kuwaiti Economic Forum in the presence of Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone, and Tarek Sultan, Vice Chairman of Agility.
The project aims to “turn the zone into a global logistics hub and improve the flow of goods and commodities and bring efficiency and lower costs to international companies and investors operating there,” according to the press statement.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.