Hisense Egypt, FBB Tech launch $38m Sokhna project

Hisense Egypt on Thursday signed a 38-million-dollar contract with Egypt-TEDA, a Chinese industrial developer in the Suez Canal Economic Zone (SCZone), to build a new factory in Sokhna Industrial Zone, in partnership with UAE’s FBB Tech.
The factory shall span over 110,000 square metres for the production of 2.5 million units of home appliances. The factory will produce televisions, audio devices, and screens, with 30 per cent of the output to be exported to Egyptian market and 70 per cent is set for export to Europe, Africa, and the Middle East.
Walid Gamal El-Din, SCZone Chairman, emphasised that the project supports Egypt’s goal of reaching $100 billion in exports by 2030 and highlights the economic zone’s strategic role in China’s Belt and Road Initiative.

Attribution: Egyptian Cabinet statement