Egypt’s SCZone: Minister reviews updates on China’s $1.65b project

Kamel Al-Wazir, Egypt’s Minister of Industry received Tian Haikui, Chairman of XinFeng Egypt, to discuss updates on the establishment of a $1.65-billion integrated industrial complex in Ain Sokhna, within the Suez Canal Economic Zone (SCZone).

According to a cabinet statement on Monday, the project will span 3.75 million square metres and is expected to generate approximately 8,000 direct jobs. It will be constructed in two phases over five years. The first phase will include four factories producing brake disc components, home appliance parts, standard fasteners, and hot-rolled steel coils. The second phase will add five factories focused on aluminium and magnesium alloy automotive components, steel structure equipment, brake drum parts, construction machinery components, and cold rolling mills.

Al-Wazir reviewed the project’s implementation updates to ensure their alignment with Egypt’s strategy to attract foreign investments and enhance industrial localisation. He highlighted the government’s commitment to transforming Egypt into a regional manufacturing hub through strengthened collaboration with international private sector partners.

Notably, this ambitious initiative aims to solidify Egypt’s position as a regional industrial powerhouse and support the country’s broader economic development goals.

Attribution: Egyptian Cabinet

Subediting: M. S. Salama