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Egyptian Prime Minister Mostafa Madbouly witnessed a series of significant investment agreements on the sidelines of the Forum on China-Africa Cooperation (FOCAC) in Beijing. The agreements mark a substantial development for the Suez Canal Economic Zone (SCZONE), with a total investment surpassing $1 billion.
Among the key projects, Shandong Tianyi Chemical will establish a groundbreaking global industrial complex in SCZONE. The $110 million project, the first of its kind in the Middle East and Africa will use concentrated seawater from local desalination plants to produce bromine and its derivatives. The project, covering 120,000 square meters, reflects a major leap in regional industrial capabilities.
In addition, SCZONE signed several other significant agreements:
Bromine Products Facility: Shandong Tianyi Chemical will collaborate with TEDA-Egypt to set up a bromine products facility on 40,000 square meters. This project aims to enhance the region’s capacity for bromine production and support the local industrial sector.
Glass Production Plant: China Glass Holding Company will establish a glass production plant with two lines—one for float glass and one for ultra-white rolled glass. Spanning 500,000 square meters with a $300 million investment, this facility will cater to markets across Egypt, North Africa, the Middle East, and Europe, creating 800 jobs.
Chlor-Alkali Production Facility: Binhua (Befar) Group will develop a chlor-alkali plant on 400,000 square meters with a $500 million investment. This project, set to be the first green chemical facility in Egypt, will use a mix of wind and solar energy for production and is expected to generate 795 jobs.
Solar Cell Production: Elite Solar Company will build a facility for producing N-type solar cells with a 2 gigawatt capacity. The $100 million project on 77,000 square meters aims to boost local solar energy production and create 600 jobs.
Modified Starch Plant: Dahui Glucose & Tiba Starch Company will set up a modified starch plant on 41,000 square meters, with an investment of $7.5 million. The plant will address the demand for modified starch in Egypt and neighboring regions.
Home Appliances Supply Chain Park: Kaks Investment Company will develop a specialized park for the home appliances industry on 80,000 square meters. The $50 million project will support local component manufacturing and provide 300 jobs.These agreements underscore SCZONE’s growing role as a hub for international industrial investment and economic cooperation. “These contracts highlight SCZONE’s success in attracting significant international investments, particularly from Chinese firms,” said Mr. Waleid Gamal El-Dien, Chairman of SCZONE. “They demonstrate our commitment to developing integrated industrial clusters and supporting Egypt’s economic growth.”
In addition to witnessing these landmark agreements, Prime Minister Madbouly held meetings with major Chinese companies, exploring further opportunities for cooperation within SCZONE. The discussions included potential collaborations with Tianjin TEDA Investment Holding Group, China Southern Glass CSG Holding Company, Great Wall Motors, and FAMSUN Integrated Solutions Company. |
