Egyptian-Saudi Techno Bond plans $50 million aluminium plant in Suez Zone
Egyptian-Saudi joint venture Techno Bond plans to invest up to $50 million to establish a complex producing aluminium coils and cladding panels in Egypt’s Suez Canal Economic Zone (SCZONE), the zone’s authority said on Wednesday.
The project will be built on a 25,000-square-metre site in the Sokhna Industrial Zone, with an initial investment of $18 million and plans to increase the total to $50 million, SCZONE Chairman Moustafa Shaikhon said at the contract-signing ceremony.
The facility is expected to create around 200 jobs in its first phase and begin production by the end of 2027, the authority said.
The plant will manufacture various types of aluminium coils and cladding panels using advanced technologies and international quality standards, targeting industries including construction.
Shaikhon said the project would support Egypt’s efforts to deepen local manufacturing, transfer industrial technology, and increase the value added of locally produced goods.
The investment would also help reduce reliance on imports and support industries supplying the construction sector, he said.
Techno Bond plans to use advanced production technologies to strengthen the competitiveness of Egyptian products in domestic and regional markets and expand exports to Arab and African markets, Shaikhon said.
SCZONE is seeking to attract a broader range of industrial investments as Egypt aims to expand manufacturing capacity and boost the contribution of exports to economic growth.
The project is being developed within the area managed by Main Development Company (MDC), the authority said.
The Techno Bond project is part of an initiative to support the expansion of industrial companies with export potential within SCZONE, in coordination with Egypt’s Administrative Control Authority.
The initiative aims to help industrial investors expand production capacity and strengthen their ability to export, the authority said.
Shaikhon said SCZONE would continue to support investors and work to accelerate project implementation and the start of production.