East Port Said Development (EPSD), a division of Egypt Industrial Development Group (IDG) in charge of the development of the East Port Said Special Economic Zone, has An important agreement has been signed with the German car manufacturer Volkswagen to create a center for fulfillment and logistics of cars close to the port of Port Said East, which It would thus become a primary hub for the automotive sector being strategically located at the mouth of the Suez Canal in the Mediterranean. The capacity of the hub, initially dedicated painting and sheet metal stamping, it will be possible to a first phase of 75,000 vehicles per year and then 150-250 thousand.

The agreement was also signed by Suez Canal Economic Zone (SCZONE) and the Sovereign Fund of Egypt (TSFE) and provides for the implementation of a feasibility study for the creation of the East Port Said Automotive Zone (EPAZ) with a investment of 240 million dollars. It is expected that the project 6,100 jobs, of which 2,100 direct.

The agreement is part of the Automotive Industry Development Program (AIDP), the Cairo government's program for make Egypt a hub for the African motor vehicle market, in particular electric vehicles. With the agreement, the group Volkswagen is committed to providing technical cooperation for the achievement of the objectives of the programme.