Elsewedy Industrial Development & Global Chemical company BASF signed MoU to establish a Green Logistics Hub in Sokhna 360
First German Green Logistics Hub in Sokhna 360: Elsewedy Industrial Development & Global Chemical company BASF signed MoU to establish a Green Logistics Hub in Sokhna 360.
Moving towards establishing green cities, Elsewedy Industrial Development, the leading integrated developer for sustainable industrial cities and a subsidiary of Elsewedy Electric signed an MoU with BASF, a German multinational company and the largest chemical producer in the world, to establish a major green logistics hub in Sokhna 360.
With the aim to be one of the biggest logistics hubs with a space of 470K SQM, Sokhna 360 is the first sustainable and integrated industrial city in the heart of Egypt’s internal and external trade center. It seeks to foster a sustainable pathway of growth, by undertaking green investments that encourage environmentally responsible decisions to ensure improved industrial production processes and resource-efficient productivity. Within this context, BASF is committed to supporting industries through its broad portfolio of products and innovations to create a sustainable framework for business practices on economic, social and environmental levels.
“Sokhna 360 establishes the equation of an attractive investment return and positive impact on society by adopting initiatives of Carbon Neutrality and Net Zero Emissions. We are proud of our recent collaboration with BASF, the world’s leading chemical company, who is in the process of obtaining the Usufruct Right of a plot of land in Sokhna 360, which demonstrates our keenness to collaborate with clients who share with us the same vision. BASF trusted that Sokhna 360 suited their aspirations to allocate their first green logistic hub, assuring the high standards of safety, technology, integration and sustainability. This collaboration is a great step towards boosting the green economy in line with Egypt’s Vision 2030” Elsewedy Industrial Development’s CEO Eng. Mohamed El Kamah, said.
“During 70 years of operating in Egypt, BASF has helped in building, feeding, fueling and driving the Arab world’s most populous country and North-Africa’s largest economy towards sustainability. It is committed to provide more accessibility not only to the Egyptian Market, but to also cover neighboring countries. BASF has entered into this MoU with Elsewedy Industrial Development, to build their first logistic hub in Sokhna 360 thereby supporting our sustainability mission by adding to our green map. The hub is strategically located on the Suez Canal trade route, about 15 kilometers from Ain El Sokhna Port giving BASF access to major sea routes connecting Africa and allowing it to promote green and environmentally friendly solutions.” Xavier Verfaillie, BASF’s Managing Director for BASF Egypt, Sudan, and the Levant, stated.
It is noteworthy that Sokhna 360 is set up on approximately 10 million SQM, with an industrial zone accounting for almost 60% of the project area and green areas of around 700,000 SQM. The city is expected to attract much foreign investments owing to its great incentives, as it allows for 100% foreign ownership of companies, 100% foreign control of import/export activities and 100% exemption from custom duties & sales taxes.
About Elsewedy Industrial Development:
With an extensive experience in manufacturing, Elsewedy Industrial Development, a subsidiary of Elsewedy Electric Company, listed as (SWDY.CA) on the Egyptian Stock Exchange (EGX), specializes in building and developing integrated and sustainable industrial zones in the region, with endeavors to achieve sustainable development as part of its ethical responsibility commitment to better serve the society. The company provides an array of services including; master planning, advisory services, infrastructure works, construction management, engineering guidance, and designs. Moreover, it offers investors a full-fledged package of advanced services for industrial zones, necessary facilities, distinguished infrastructure as well as comprehensive manufacturing facilities. The company owns a vast portfolio of lands in Egypt and Africa, touted as the largest land portfolio owned by an industrial development company in Egypt. The business of Elsewedy Industrial Development in Africa encompasses the Egyptian Industrial City (EIC) in Tanzania, which stretches across an area of 2.2 million square meters. In Egypt, the company’s portfolio of projects entails its latest project, “Sokhna 360”, the first integrated industrial city in the region, built on an area of 10 million square meters, alongside each of Industria East, Industria West in the industrial zone of the Tenth of Ramadan city, Industria Sokhna, Industria Sadat, Industria Alamein, Industria Asher and Al Oula for the development of industrial zones in 6th of October City. For more information, please visit: https://www.elsewedydevelopment.com/
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. Around 111,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio comprises six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €78.6 billion in 2021. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S. Further information at www.basf.com.
BASF in the Middle East
BASF has been active in the Middle East for more than a century, supplying and customizing its solutions for almost every industry, mainly construction, chemicals & plastics, energy & resources, water, consumer goods, agriculture, and the feed and food industry. During this time, we have established our presence in seven countries, namely in Bahrain, Egypt, Iran, Jordan, Oman, Saudi Arabia and the United Arab Emirates, with an office in Abu Dhabi. BASF’s Dubai office serves as the regional Head Office and Service Platform for the Middle East. With close to 300 employees in the region, BASF works cohesively to meet the local market demands towards its corporate purpose to “create chemistry for a sustainable future”.