SCZONE witnesses groundbreaking of $146m Xin xing factory

By Aya El Sayed On Apr 30, 2024

Mr. Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), f Mr. Zhao Linqing, Commercial Attaché of the Embassy of China in cairo, Mr. Wei Jianqing, Executive General Manager of TEDA. China Africa,Mr. Ye Maolin, President of Xin Xing Ductile Iron Pipe Company. during the ceremony.

The General Authority of the Suez Canal Economic Zone (SCZONE) witnessed on Tuesday the groundbreaking of the “Xin Xing” iron casting factory, a $146 million project set to produce up to 250,000 tons of high-pressure flexible cast pipes annually, creating 714 direct jobs on a sprawling 270,000-square-metre site.

Notably, a contract was signed last March to transfer the usufruct of the project area, located within the TEDA Industrial Zone, to the “Xin Xing” Company for the manufacture of ductile pipes. This marks a significant milestone in the industrial development of the region.