Cairo – Mubasher: The Suez Canal Economic Zone (SCZONE) has signed a contract with Kuwait’s Agility to develop and operate a customs and logistics centre.

Agility will invest $60 million to establish a logistics and customs centre to serve businesses covering 100,000 SQM in Ain Sokhna and East Port Said, according to a press release on Monday.

The project, intended to turn the zone into a global logistics hub, will be implemented during the second half (H2) of 2023.

Chairman of the SCZONE, Walid Gamal El-Din, said: “The signing of this contract today with Agility, a leader in customs modernization, is consistent with the Suez Canal Authority’s strategic plan 2020/2025, which aims to create an enticing investment environment and further one of Egypt’s key development goals.”

Gamal El-Din added: “This agreement will enable the Suez Canal Authority to improve visibility over inbound materials and finished goods and enhance efficiency through a single-window customs platform. The result will be increased commercial activity, quicker release of cargo and better overall operations.”

For his part, Vice Chairman of Agility, Tarek Sultan, commented: “By developing and modernizing the customs and logistics centre, the SCZone and the Egyptian government are positioning Egypt to be one of the world’s most advanced operators and an indispensable 21st century trade partner for MENA, Asia and Europe.”