Modon, Elsewedy to build new free zone at Ras El Hekma

Modon Holding, an Abu Dhabi-based holding firm, and Egypt’s Elsewedy Industrial Improvement have signed a letter of intent (LOI) to construct and function a brand new industrial zone servicing the Ras El Hekma metropolis megaproject in Egypt.

The ten million sqm new industrial zone, situated south of the Alexandria-Matrouh Freeway and reverse the Ras El Hekma website being developed by Modon, will initially give attention to attracting traders and producers for constructing supplies for the broader undertaking – making certain well timed, cost-effective development whereas introducing superior, sustainable supplies.

With robust connectivity to main roads, airports, and the high-speed rail community, the zone will improve and localize provide chains as the event progresses.

The three way partnership between Modon and Elsewedy Industrial Improvement is the most recent in a collection of partnerships established to drive the megaproject ahead and reaffirms Modon’s dedication to collaborate with Egyptian corporations in delivering Ras El Hekma.

Modon and Elsewedy are actually actively securing anchor companions and industrial traders, prioritizing main Egyptian corporations in key segments to drive industrial development and create synergies with worldwide traders.

The primary wave of corporations to signal Memorandums of Understanding (MoUs) with Modon Holding to produce the offtake of constructing development and different supplies for the undertaking, in addition to exploring alternatives to develop factories or industrial traces on the proposed industrial zone, consists of:

• Elsewedy Electrical, a number one Egyptian and worldwide electrical merchandise supplier and builder of energy and water options.

• 3S Prepared Combine Concrete, a part of Hassan Allam Group and one of many largest prepared combine concrete suppliers in Egypt.

• RAK Ceramics, one of many largest ceramic manufacturers on the planet and a UAE-born firm.

• Hitech Concrete, a subsidiary of Trojan Building Group, one of the main concrete merchandise suppliers within the UAE.

The long-term imaginative and prescient for the commercial zone extends past the development section, aiming to ascertain a sustainable industrial base that drives year-round financial exercise, job creation, and considerably contribute to Egypt’s GDP.

This strategic infrastructure will additional strengthen Egypt’s place as a number one commerce and manufacturing hub. By diversifying into new sectors, the zone will help regional initiatives alongside Egypt’s North Coast whereas increasing into key export markets corresponding to Libya and Europe.

Moreover, this growth will place Ras El Hekma as a hub for industrial innovation, aligning with its imaginative and prescient to turn into a thriving, globally aggressive metropolis. Over the following decade, the zone is projected to generate greater than 20,000 new jobs, reinforcing its function as a catalyst for financial development.

“Our collaboration with Elsewedy Industrial Improvement marks a big step in realizing our imaginative and prescient for Ras El Hekma. In becoming a member of forces with one in every of Egypt’s main industrial companies, Modon additionally demonstrates our dedication to collaborate with Egyptian and worldwide corporations in delivering this bold and transformative undertaking.”

Invoice O’Regan, Group CEO of Modon Holding, stated that, “This new collaboration consolidates our already strong community of worldwide partnerships. The settlement with Elsewedy Industrial Improvement will deliver deep native experience to delivering the Ras El Hekma masterplan, and helps guarantee we create a vacation spot that surpasses the expectations of future residents whereas including tangible worth to native communities.”

Eng. Mohamed AlKammah, CEO of Elsewedy Industrial Improvement, commented that, “We’re excited to be engaged on this strategic undertaking, which marks an essential step towards increasing our efforts in creating built-in industrial communities. Ras El Hekma Industrial Zone can be a mannequin for good industrial cities, not solely when it comes to infrastructure but in addition in its capability to draw strategic industries in constructing supplies and development, whereas supporting the native financial system by way of job alternatives and value-added productive ventures.”

Spanning 170.8 million sq. meters, Ras El Hekma can be a totally useful, good, sustainable, and inclusive city group, and residential to as much as two million folks following completion.

ADQ appointed Modon as grasp developer for Ras El Hekma in 2024, with the deliberate metropolis representing a key ingredient of Modon’s worldwide development technique and considerably rising its land underneath improvement exterior the UAE.

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