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TAQA Arabia and The Golden Triangle Economic Zone (GTEZ) Ink a Cooperation Protocol for the implementation of

Industrial Zone Utilities in Safaga City - under the jurisdiction of the Golden Triangle

 

January 26th – Cairo, Egypt: TAQA Arabia, Egypt’s leading private sector energy and utility provider, has signed a cooperation protocol with The Golden Triangle Economic Zone (GTEZ) for the implementation and providing basic utilities for investors within the 9.1 industrial zone in Safaga city. This aligns with Egypt’s strategy to accelerate development, investment, and added value projects in this area, aiming to achieve sustainable development goals and attract both local and international investments.

 

The two parties agreed to collaborate on implementing the infrastructure that serves the industrial zone. This includes establishing and operating electricity networks, whether through conventional power solutions or renewable energy alternatives; constructing natural gas distribution networks, either by connecting to the national grid or using compressed natural gas solutions; providing water suitable for industrial and agricultural purposes; implementing sewage and industrial networks, in addition to facilities for distributing petroleum products and managing waste to ensure sustainable development.

 

The protocol was signed by Ms. Pakinam Kafafi, CEO of TAQA Arabia, and Eng. Mohamed Abady, Chairman of The General Authority of the Golden Triangle Economic Zone (GTEZ). The signing ceremony was attended by Eng. Tarek El Hawary – Managing Director TAQA Gas, Eng Samy Abdel Qader, Managing Director TAQA Power, and Mr. Mohamed Aboulghait, Vice Chairman of The General Authority of the Golden Triangle Economic Zone (GTEZ).

 

For his part, Eng. Mohamed Abady, Chairman of The General Authority of the Golden Triangle Economic Zone (GTEZ), stated: "As per Egypt's Vision 2030 and within the framework of achieving sustainable economic growth, the Golden Triangle project stands as a multi-sector economic hub in Upper Egypt, thanks to its distinguished location and abundance of natural resources. Therefore, to align with the authority’s strategy of establishing partnerships with leading companies with extensive expertise, and to harness the potential resources of this area, a cooperation protocol has been signed with TAQA Arabia.”

 

In this context, Ms. Pakinam Kafafi, CEO of TAQA Arabia, expressed her pride in this partnership, saying: "This collaboration marks a significant step towards achieving sustainable and inclusive development in the Golden Triangle area, transforming the economic zone into a global-standard investment hub. We are fully committed to leveraging our expertise of over two decades to deliver integrated solutions for infrastructure development and enhance the area's attractiveness."

 

The Golden Triangle Economic Zone, spanning approximately 9,000 square kilometers and located between Qena, Qeft, Safaga, and Quseir, is a strategic project and a comprehensive model for sustainability. It aims to develop and transform Upper Egypt by leveraging its comparative advantages, including mineral resources, coastal assets, and fertile soil, into a global industrial, logistical, agricultural, service, and development hub with significant investments. The project targets increasing employment rates, enhancing Egypt's share of global trade, creating more job opportunities for youth, and boosting population attraction to the Golden Triangle.

 

As part of the Authority's policy to build a green economy and with the completion of infrastructure and the provision of essential services, the region's ability to attract local and international investments will significantly increase, driving comprehensive development. This will enhance its competitiveness on both local and global levels, in line with Egypt's Vision 2030