The Suez Canal Economic Zone (SCZONE) has signed an agreement with India’s Volkov Infra Private Ltd to establish the Ferro Genesis factory in East Ismailia’s Technology Valley, according to an official statement.
With a $5 million investment, this marks Volkov Infra’s first industrial venture in the region and forms part of a broader initiative to develop Sinai.
The factory will specialize in producing silico manganese and ferrosilicon using quartz and manganese ore, essential materials for high-quality steel production.
Spanning 35,000 square meters, the facility is expected to generate 150 direct job opportunities.
The Ferro Genesis factory is one of three planned projects in Technology Valley, with a combined investment exceeding $65 million (over EGP 3 billion). The remaining projects are set to be finalized in the coming months.
SCZone Chairman Waleid Gamal El-Dien emphasized that the agreement underscores SCZone’s commitment to Sinai’s development, aligning with Egypt Vision 2030. He highlighted that sustained efforts over the past 30 months, including international promotional tours, have successfully attracted industrial investments to the region.