Egypt, Chinese group discuss $2bn SCZONE complex

Egypt is in talks with a leading Chinese aluminium group over plans to invest up to $2 billion in an integrated industrial complex in the Suez Canal Economic Zone (SCZONE), a project expected to create more than 3,000 jobs.

Deputy Prime Minister for Economic Affairs Hussein Eissa discussed on Thursday the planned investment with a high-level delegation representing one of China’s leading aluminium industry groups. The Chinese delegation said the proposed complex would help meet domestic market needs while increasing exports, strengthening Egypt’s position as a regional manufacturing and export hub.

Eissa reaffirmed Egypt’s commitment to strengthening its comprehensive strategic partnership with China and expanding economic and investment cooperation between the two countries.

He said attracting foreign investment remains a top priority for the Egyptian government, stressing its commitment to removing obstacles facing investors and offering incentives and facilitations to enhance the competitiveness of the country’s investment environment.

Eissa also highlighted the importance of the project contributing to the transfer of expertise and modern technology and relying on clean energy sources, in line with global sustainability and green industry trends.