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The complex will cover nine industrial projects and two service centers for research and development and solid waste recycling Arab Finance: Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZone), inked a deal with XinFeng Egypt to establish an integrated manufacturing complex in Sokhna, as per a statement. The complex will cover nine industrial projects and two service centers for research and development and solid waste recycling. To be implemented in two phases over five years, the projects will cover an area of 3.75 million square meters, with a total investment of $1.65 billion. They are expected to create around 8,000 jobs. Gamal El-Dien highlighted that the first phase will include four factories, with the first three set to commence operation in early 2027. It will span 2 million square meters and provide 4,419 job opportunities. The company will develop an automotive components factory with an annual production capacity of 230,000 tons and a metallic components factory for home appliances with an annual output of 50,000 tons. A standard fasteners (bolts and nuts) factory will also be developed at an annual production of 100,000 tons, in addition to a hot-rolled coil factory with an output of 2 million tons per year. As for the second phase, it will cover 1.75 million square meters and secure 3,575 jobs. It will consist of five factories, including a machinery spare parts facility with an annual output of 200,000 tons and a rake disc factory with an annual production of 150,000 tons. The complex will also include a steel structures factory with an annual production of 100,000 tons, an aluminum-magnesium alloy auto parts factory with an annual output of 20,000 tons, and a cold-rolled steel factory with a yearly production of 2 million tons. The pilot operation of the first four projects will begin in January 2029, while the cold-rolled steel facility will start operating in March 2030. |
