The signing of an industrial land allocation contract between Elsewedy Industrial Development a subsidiary of Elsewedy Electric Company, and Futurefert, owned by the Emirati Sharkia Holding Limited ceremony which took place at the SCZONE pavilion at COP28, aims at producing agricultural enricher materials on an area of 127 thousand sqm within the "SOKHNA360" project. 

The contract was signed by Engineer Mohamed AlKammah, CEO of Elsewedy Industrial Development, and Mr. Mohamed Nour, Managing Director of Futurefert Egypt. The cooperation between the two parties aims for Futurefert Egypt to invest up to 50 million USD for the first and second phases of the project to establish an agricultural enrichment complex using the latest manufacturing technology according to European Environmental Standards and compatible with the latest environmental regulations and global standards.  

Situated within the strategic location of SOKHNA360, part of the Suez Canal Economic Zone, the project benefits from unparalleled connectivity, enabling efficient export to Europe, Asia, and Africa. The economic zone's economic incentives and advantages further enhance the project's viability for exporters. 

The factory aims to produce at least 300,000 tons of agricultural enrichments in the first phase that aligns with the green and environmentally friendly solutions in the fully integrated industrial zone, through the use of the latest manufacturing technologies that reduce emissions by 90% and recycle industrial waste. In this matter, this promising cooperation is a major step towards achieving the green transition in support of national and international initiatives, which also aims to create 500 new job opportunities.