China’s Henan Zhongfu proposes $2 billion aluminum plant in Egypt’s SCZone

Egypt is reviewing a $2 billion proposal by China’s Henan Zhongfu Industry Co. to build an aluminum production complex in the Suez Canal Economic Zone (SCZONE), as Cairo pushes to deepen industrialisation and expand export-oriented manufacturing.
Prime Minister Moustafa Madbouly discussed on Saturday the plan with Cui Hongsong, chairman of Henan Yulian Energy Group Co., the parent company of Henan Zhongfu, along with company executives. The project is planned for East Port Said Industrial Zone and would cover more than 1 million square metres.
Madbouly said the government is willing to provide full support for the project, citing its strategic importance to Egypt’s industrial development agenda.
Deputy Prime Minister Hussein Eissa described the investment as a key industrial project with significant downstream linkages, and suggested potential cooperation between Henan Zhongfu and state-owned EgyptAlum, including possible partnership discussions.
Waleid Gamal El-Dien, chairman of the Suez Canal Economic Zone Authority, said the project would be the first of its kind in East Port Said and would reinforce the zone’s positioning as a hub for heavy and strategic industries.
He said the investment is expected to generate export revenues and create about 3,000 direct jobs, while supporting development in Sinai and Canal cities.
Gamal El-Dein added that the project would help localise higher-value aluminum production and strengthen Egypt’s role in regional and global supply chains spanning Africa, the Middle East and Europe.
Cui Hongsong said the project reflects confidence in Egypt’s investment climate and incentives, adding that production would serve more than 130 clients across 45 countries.
Egypt has been working to position the SCZONE as a manufacturing and logistics hub along key global shipping routes.

Attribution: Amwal Al Ghad English