Walid Gamal El Din
Spanning over an area of 270,000 square meters, the Xin Xing factory has an annual production capacity of 250 thousand tons
During the meeting, El-Din emphasized the significance of the economic zone as a national project aimed at supporting sustainable practices, contributing to Egypt's gross domestic product, generating employment opportunities, and establishing integrated industrial complexes with effective environmental systems
A key aspect of this project is its potential for job creation, with plans to employ 200 individuals.
The purpose of this project is to establish a factory specializing in the production of hot-rolled iron coils, to export 70 percent of its output.
During a meeting with the trade delegation from China's Zhejiang Province, SCZone Chairman Walid Gamal El-Din revealed these figures.
The main aim of the project is to produce 7.2 million pieces of jeans, to export 70 percent of the total production, and allocate 30 percent for the local market.
During a meeting of the authority's Board of Directors to discuss the financial and promotional positions for FY2023/2024 until the end of February 24, the chairman of SCZone, Walid Gamal El Din, made this announcement.
The factory will be responsible for designing, manufacturing, and installing grain storage silos, as well as their components and accessories.
Among these, 13 projects received final approval, while 24 projects received initial approval.
The factory sets its sights on exporting 60 percent of its production, aligning with Egypt's ambitious target of achieving $100 billion in exports, as highlighted by SCZONE Chairman, Walid Gamal El-Din.
The partnership seeks to enhance joint coordination between the two entities across multiple sectors, including industry, agriculture, mining, tourism, and services within their respective economic zones.
The factory, covering an expansive area of 26,000 square meters, is expected to create approximately 300 job opportunities
During the tour, the chairman engaged in 12 meetings with various companies and conducted on-site visits to prominent factories and businesses in four cities: Hangzhou, Suzhou, Hefei, and Beijing
Through this expansion, an area of 21,000 square meters will be added to Hengtong’s factory in the Sokhna Industrial Zone.
The agreements outlined plans for new expansions and the establishment of an additional 3 km2 industrial zone within the Sokhna Industrial Zone
Walid Gamal El-Din visited Shanghai, where he signed agreements with Chinese investors and businessmen, primarily focusing on the localization of various industries within the SCZONE's ports and regions
The factory stands as the region's first specialized facility for the manufacturing of wearable mobile phone accessories.
The Chinese company expects to annually produce 1.5 million washing machines at the factory, for export to the Middle East, Africa, the EU, and the US.
SCZone currently holds a 39 percent stake in PSCCHC.
Chairman of the Suez Canal Economic Zone (SCZone) Walid Gamal El Dien announced the signing of $487 million agreements and contracts between a number of Chinese companies and the industrial developer TEDA-Egypt for establishing new projects in the industrial zone of Al Ain Al Sokhna.
Most Read
