Dr. Mostafa Madbouly witnessed today the signing ceremony of Polyserve’s Egyptian Chemicals Company project, at the government headquarters in the New Administrative Capital. The project is set to be established in the integrated Sokhna industrial zone, Suez Canal Economic Zone (SCZone), in the presence of Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, and Mr. Walid Gamal El-Din, Chairman of the SCZone.

The contract was signed by Mr. Mostafa Sheikhoon, Deputy Chairman of the SCZone for Investment and Promotion Affairs, and Mr. Mostafa El-Gebali, CEO of Poly Serve Egyptian Chemicals Company.

The Poly Serve project will be established on an area of 650,000 square meters within the integrated Sokhna industrial zone, with total investments estimated at $215 million, including 40% self-financing. The project is expected to have an annual production capacity of 3.5 million tons and will provide around 500 direct job opportunities.

Poly Serve is an Egyptian company with diversified activities including mining, fertilizers, and various chemical industries such as basic chemicals, nitrogen compounds, extraction of stones, sand, and clay, as well as chemical minerals and fertilizers. The company also produces sulfuric and phosphoric acids, along with specialized and compound fertilizers.

Following the signing ceremony, Prime Minister Madbouly emphasized that localizing such industries has a significant positive impact on the national economy, contributing to reducing import bills and boosting Egyptian exports. He noted that the ongoing efforts by the SCZone provide strong incentives for investors by offering a well-prepared business environment. He reaffirmed the government’s commitment to attracting private sector projects with high added value, highlighting their role in deepening local manufacturing and enhancing the competitiveness of Egyptian products in regional markets.

For his part, Mr. Walid Gamal El-Din stated that the new chemicals project provides direct support to both the petroleum services and agricultural development sectors. He added that the SCZone is increasingly focused on diversifying investments to achieve economic integration, in line with its strategic vision to localize industry, transfer technology, and enhance logistics and service activities across 21 sectors.

He also highlighted the SCZone’s strategic location along both sides of the Suez Canal, enabling full access to regional and global markets. Additionally, he pointed to the zone’s integrated network of ports on both the Mediterranean and Red Seas, and their connection with industrial zones, as a key solution to overcoming global trade and supply chain challenges. He further noted the important role of skilled technical labor as one of the zone’s main competitive advantages for investors.