Image: Modon Holding
Modon Holding and Egypt’s Elsewedy Industrial Development (Elsewedy) have inked a letter of intent (LOI) to develop and operate a new industrial zone that will serve the Ras El Hekma city megaproject in Egypt.
Spanning 10 million square metres, the industrial zone will be located south of the Alexandria-Matrouh Highway, directly across from the Ras El Hekma site, which is being developed by Modon.
The zone will primarily focus on attracting manufacturers and investors involved in building materials, with the goal of supporting timely and cost-effective construction while integrating advanced, sustainable materials into the development.
The industrial zone’s strategic location, with easy access to key roads, airports, and a high-speed rail network, will help localise supply chains and streamline logistics as the project progresses.
Read: Egypt approves establishing special free zone in Ras al-Hekma
Securing key partners and investors for the project
Modon and Elsewedy are actively engaging with anchor partners and industrial investors, focusing on key Egyptian companies across strategic segments.
The aim is to stimulate industrial growth and foster synergies with international investors.
Several companies, including Elsewedy Electric, 3S Ready Mix Concrete, RAK Ceramics and Hitech Concrete, have already signed memorandums of understanding (MoUs) with Modon.
Jassem Mohamed Bu Ataba Al Zaabi, chairman of Modon Holding, emphasized the importance of this partnership, stating, “Our collaboration with Elsewedy Industrial Development marks a significant step in realising our vision for Ras El Hekma.
“In joining forces with one of Egypt’s leading industrial businesses, Modon also demonstrates our commitment to collaborate with Egyptian and international companies in delivering this ambitious and transformative project.”
Modon is supporting economic growth in Egypt
The long-term vision for the industrial zone goes beyond the construction phase, aiming to establish a sustainable industrial base that will foster year-round economic activity, create jobs, and contribute significantly to Egypt’s GDP.
The zone will also bolster Egypt’s position as a leading trade and manufacturing hub while supporting regional projects along Egypt’s North Coast and expanding into key export markets such as Libya and Europe.
Bill O’Regan, group CEO of Modon Holding, said: “This new collaboration consolidates our already robust network of international partnerships. The agreement with Elsewedy Industrial Development will bring deep local expertise to delivering the Ras El Hekma masterplan, and helps ensure we create a destination that surpasses the expectations of future residents while adding tangible value to local communities.”
The expansion of the industrial zone will position Ras El Hekma as a hub for industrial innovation, aligning with its broader goal of becoming a globally competitive city.
Over the next decade, the zone is projected to generate more than 20,000 new jobs, driving economic growth and serving as a catalyst for future development.
Engineer Mohamed AlKammah, CEO of Elsewedy, expressed enthusiasm for the project, noting, “Ras El Hekma Industrial Zone will be a model for smart industrial cities — not only in terms of infrastructure but also in its ability to attract strategic industries in building materials and construction while supporting the local economy through job opportunities and value-added productive ventures.”
Vision for a sustainable city
Spanning 170.8 million square metres, Ras El Hekma is set to be a fully functional, smart, sustainable, and inclusive urban community, capable of housing up to two million people upon completion.
Modon was appointed as the master developer for Ras El Hekma by ADQ in 2024.
The planned city represents a key component of Modon’s international growth strategy, significantly expanding its land development footprint outside the UAE.
Al Zaabi concluded, “By joining forces with Elsewedy, we are enhancing our efforts to realise a truly transformative urban space. This collaboration will foster economic growth, bring long-term benefits to Egypt’s industrial landscape, and strengthen our role as a global leader in sustainable development.”
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