Egypt’s General Authority for the Suez Canal Economic Zone (SCZONE) announced on Wednesday that it has signed two contracts to develop and operate a multi-purpose terminal and an industrial zone in East Port Said Port on the side lines of COP27 in Sharm El-Sheikh, Egypt. 

SCZONE said in a press statement that contract for ‘design, construction, management, operation and maintenance’ of the multi-purpose terminal was signed with Sky Investment and Reliance Logistics Consortium. 

The statement said the new terminal would be developed at a total investment of $65 million. 

The industrial zone development agreement was signed with Roots FMCG. 

On Tuesday, SCZONE and Suez Canal Container Terminal (SCCT) signed a concession agreement for building a second container terminal at Port Said East Port at a total investment of $500 million. 

The three contracts are part of more than $719 million worth of projects approved by the Board of Directors of SCZONE in September 2022.