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"SCZONE Delegation Concludes Successful Promotional Tour in India, Strengthening Ties with Tata Group and Exploring Business Opportunities"


The delegation from Egypt's Suez Canal Economic Zone (SCZONE) has successfully concluded its promotional tour in the Indian cities of New Delhi and Mumbai. During the tour, Waleid Gamal El-Dein, the Chairperson of SCZONE, held meetings with representatives from the Tata Group, a prominent Indian multinational company based in Mumbai, which operates in over 150 countries.


The objective of the tour was to implement the promotional plan for the current year, with a focus on engaging Asian businesses and attracting more Indian companies across various sectors.


The meetings centered around a presentation on the SCZONE region, highlighting its components, incentives, investment opportunities, and specific industrial sectors. The discussions also covered the ongoing development efforts in the region's ports to enhance competitiveness in the Red Sea and Mediterranean regions. These enhancements aim to facilitate better connectivity between Asian, European, and African markets through the Suez Canal.


During the visit, the delegation met with Shohab Rais, a consultant for new projects at Tata Chemicals, which specializes in manufacturing basic petrochemical products for industries such as glass, detergents, and pharmaceuticals. Tata Chemicals also owns the largest salt factory in Asia, the third-largest soda ash factory, and the sixth-largest sodium bicarbonate "soda ash" factory globally. The SCZONE aims to localize the petrochemical industry, particularly soda ash, which is a crucial raw material for approximately 50 important industries like glass and detergents. Currently, Egypt imports around 500,000 tonnes of soda ash annually, with an estimated import value of $330 million.


Additionally, the delegation met with Koustuv Kakati, Head of Regulatory Affairs, and Manish Mishra, Head of Corporate Affairs at Tata Steel Ltd, to explore opportunities for collaboration in localizing iron and steel industries. This sector is a key target for the SCZONE, and the industrial zones under its jurisdiction are well-equipped to accommodate heavy industries.


The delegation also engaged with members of the Federation of Indian Industries - Western Region, led by K. Nandakumar. Nandakumar expressed the federation's keen interest in finding Egyptian partners across various industrial sectors and increasing bilateral trade between the two countries. He described Egypt as a large market that serves as a launchpad for global investments. The federation aspires for the SCZONE, through joint cooperation, to become a hub for Indian industries and a gateway for Indian products and goods to the vast African consumer markets.


In summary, the SCZONE delegation successfully concluded its promotional tour in India, fostering connections with the Tata Group and exploring opportunities for collaboration in petrochemicals, iron and steel industries, and expanding trade between Egypt and India. The SCZONE aims to position itself as an attractive destination for Indian businesses and a pivotal link between Asian, European, and African markets.

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