Ismailia: India's Jai Dadi Group is set to make a significant investment of $16 million in a metal alloys project located in East Ismailia, Sinai. This initiative is expected to create approximately 300 direct jobs, as announced by the Suez Canal Economic Zone (SCZONE) on Thursday.

According to State Information Service Egypt, the project, named Nile Ferro Alloys LLC, will span 80,000 square meters within the Technology Valley in the East Ismailia Industrial Area. The facility will focus on the production of ferro-silico-manganese, intermediate iron products from scrap, and processed iron alloys, catering to Egypt's infrastructure, heavy engineering, and railway industries.

SCZONE Chairman Waleed Gamal El-Dein emphasized the project's significance as the fourth in the industrial cluster in East Ismailia. With this addition, total investments in the area have reached $59 million, generating around 1,000 direct jobs. Gamal El-Dein highlighted the zone's strategic aim of attracting key investments and establishing Sinai as a prominent player on the global investment stage.

Gamal El-Dein further elaborated on the zone's vision to develop fully integrated, sustainable industrial and service communities. This includes the establishment of utilities, housing, workforce training centers, healthcare facilities, and educational institutions, all designed to support the growing industrial hub in Sinai.