ADQ-backed Modon and Egypt’s Elsewedy team up to build an industrial zone in Ras Al-Hikma
Modon Holding from Abu Dhabi and Elsewedy Industrial Development from Egypt have agreed to work together on building an industrial area in Ras Al-Hikma, a major urban project in Egypt. They signed a letter of intent, as announced on Friday.
Attracting Investors
The Modon-Elsewedy partnership is part of a bigger plan to develop the Ras Al-Hikma megaproject and work closely with Egyptian companies.
Both companies are bringing in key business partners and investors, focusing on top Egyptian firms to help grow the industry and connect with international investors.
The industrial zone, covering 10 million square meters, is located south of the Alexandria-Matrouh Highway, across from the Ras Al-Hikma site. This zone will play a big role in supporting the megaproject’s growth.
The area aims to attract investors and manufacturers of building materials to ensure efficient and cost-effective development. With good access to major roads, airports, and Egypt’s high-speed rail system, the zone will improve supply chains and boost local production.
By keeping supply chains within the country and supporting large-scale construction, this industrial hub will be a key part of Ras Al-Hikma’s transformation into a smart, sustainable city.
Partnerships
Mohamed AlKammah, CEO of Elsewedy Industrial Development, said their partnership with Modon is an important step toward building modern industrial communities.
“The Ras Al-Hikma Industrial Zone will be a model for smart industrial cities,” he said.
Several companies have already signed agreements with Modon to supply building materials and explore industrial opportunities in the zone. These include:
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Elsewedy Electric – a major Egyptian and international company in electricity, power, and water solutions.
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3S Ready Mix Concrete & Hassan Allam Group – leading suppliers of ready-mix concrete in Egypt.
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RAK Ceramics – a well-known ceramics brand from the UAE.
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Hitech Concrete & Trojan Construction Group – top UAE-based concrete product providers.
In November 2023, Modon also partnered with Egypt’s Hassan Allam Holding to work on large construction projects, including infrastructure, energy, and water treatment at Ras Al-Hikma.
A Massive Project
Ras Al-Hikma covers 170.8 million square meters and is designed to be a smart, sustainable, and inclusive city for up to two million people. ADQ appointed Modon as the main developer in 2024, making this project an important part of Modon’s global expansion beyond the UAE.
Over the next 10 years, the zone is expected to create over 20,000 jobs, helping to grow Egypt’s economy.
Published: 1st April 2025
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