MBH with Xin Feng on SCZONE agreement
Matouk Bassiouny & Hennawy (MBH) advised Xin Feng Steel Egypt and Xin Feng on its agreement with the General Authority for Suez Canal Economic Zone (SCZONE).
The context
The agreement in question enables Xin Feng to develop nine industrial projects and two service centers in Egypt. Backed by a total investment of USD 1.65 billion, the projects will develop in two phases over five years on a 3.75 million square meter site within the Ain Sokhna Industrial Area.
The first phase includes four factories specialised across automotive components, home appliance metallic parts, fasteners, and hot-rolled coils, with production expected to begin by early 2027.
The second phase features five additional factories producing machinery spare parts, rake discs, steel structures, automotive parts, and cold-rolled steel, with operations scheduled for 2029.
The MBH team
Partner Nadia Abdallah (pictured) led the MBH team on the matter, working alongside senior associate Amgad Nagy and associate Mai Ali.
