On Tuesday, November 26, 2024, on the sidelines of the second day of the Third International Industry Exhibition and Forum, Mr. Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone, and Dr. Amani Eid, CEO of Ebdaa for Project Development, witnessed the signing of a purchase and supply agreement between the Egyptian company Treegas for the manufacture of liquefied petroleum gas (LPG) cylinders and the Omani company Muscat Gas. The agreement will distribute all Treegas products in Jordan and all Gulf countries.
The Chairman of the Suez Canal Economic Zone also witnessed the signing of a Memorandum of Understanding (MoU) earlier at the Authority's headquarters in the New Administrative Capital between the Egyptian company Treegas and the Czech company HPC. The MoU aims to establish a partnership to transfer and localize the technology for manufacturing composite and fiberglass LPG cylinders to Egypt. The MoU will see the establishment of a fiberglass cylinder production plant, a filling station, and a gas pressure valve and regulator production line in the Sokhna Industrial Zone of the Suez Canal Economic Zone in two phases. The first phase's investments amount to 7 million euros, creating 200 direct job opportunities and more than 450 indirect job opportunities with an annual production capacity of 500,000 installed cylinders. The second phase's total investment amounts to 3 million euros, to establish a filling station and a production line for gas valves and pressure regulators.
The agreement was signed on behalf of Treegas by Dr. Abdel Fattah Hajjaj, Chairman of the Board of Directors, and on behalf of Muscat Gas by Mr. Imad Al-Sabbagh, CEO of the Omani company. The memorandum of understanding regarding the partnership with the Czech side was signed by Mr. Pavel Dubinin, CEO of HPC, in the presence of several leaders from the Suez Canal Economic Zone and officials from Ebdaa, the executive arm of the National Initiative for the Development of Egyptian Industry (Ebdaa).
On the sidelines of the signing ceremony, Mr. Walid Gamal El-Din highlighted the success stories achieved by the Suez Canal Economic Zone with its international partners across various sectors. He highlighted the investment opportunities available within the Authority across 21 diverse sectors, ranging from industrial to logistics. He also addressed the Authority's competitive advantages, which in turn support the localization of these sectors. These advantages include its unique strategic location, which allows access to global markets, especially in light of Egypt's free trade and international agreements, as well as the availability of trained labor and various energy sources at competitive prices. He also emphasized the Suez Canal Economic Zone's efforts to localize industry in various sectors, particularly for goods imported from abroad, with the aim of boosting Egyptian exports and meeting the needs of the local and neighboring markets. It's worth noting that Treegas Trading and Industry is the first company in Egypt and the Middle East specialized in manufacturing fiberglass LPG cylinders. The company's project is located within the Sokhna Industrial Zone, part of the Suez Canal Economic Zone, and covers an area of 10,400 square meters. Treegas is committed to providing valuable, safe, and competitively priced LPG as an alternative to steel cylinders.
