Egypt’s SCZone secures $1.07b investmens at Beijing forum

Egypt announced several major investments totalling over $1.07 billion to be developed within the Suez Canal Economic Zone (SCZone). The agreements announced during the Forum on China-Africa Cooperation held in Beijing include the following:

Glass Manufacturing Plant: A partnership between Teda-Egypt and China Glass Holding to establish a glass factory with two production lines. The first line is designed to produce 800 tons of float glass per day, while the second line shall produce 800 tons of ultra-clear glass per day. The plant will produce 240,000 tons of high-quality glass and 230,000 tons of photovoltaic glass per year.

The $300 million project is expected to create 800 jobs and cater to local market as well as markets of North Africa, the Middle East, and Europe, with export revenues projected at $120 million annually.

Chlor-Alkali Production: Teda-Egypt and Binhua (Befar) Group have signed a $500 million lease for a chlor-alkali production facility with a 100,000-ton capacity and 795 jobs created. It will be Egypt’s first green chemical plant, using wind, solar, electricity, and natural gas for steam production.

Solar Cell Production: Elite Solar will build a factory to produce 2 gigawatts of N-type solar cells on a 77,000-square-metre site, with a $100 million investment aiming to address gaps in the photovoltaic sector and attract industrial clusters.

Starch Production: Dahui Glucose & Tiba Starch will set up a factory to produce modified starch, with an initial annual output of 20,000 tons and potential future expansion to 50,000 tons. The $7.5 million project will provide 156 jobs.

Home Appliance Supply Chain: Kaks Investment will develop a support zone for home appliance manufacturing, including component manufacturing, storage, and distribution services, on an 80,000 square metre area, with a $50 million investment.

These initiatives are part of Egypt’s strategy to boost industrial growth and integrate advanced manufacturing within the Suez Canal Economic Zone.