Total investment in the new units exceeds $190 million and these will generate around 2,700 jobs, Walid Gamal El-Din, chairman of the SCZONE General Authority, said.
The units include a $20-million integrated textile, printing and dyeing complex, located within the TEDA–Egypt industrial developer area in Sokhna. The facility has an annual production capacity of 60 million metres of fabric and 10,000 tonnes of yarn, with 70 per cent of output meant for exports. The complex is expected to create 390 jobs.
Also located within TEDA-Egypt is a new complex for solar energy technology by Elite Solar Suez Technology, with investments worth $116 million. It involves investments of $40 million, has a production capacity of 2 gigawatts, and is expected to create about 400 direct jobs, according to domestic media outlets.
The project aims at supporting localisation of solar energy generation and increase reliance on indigenous components in renewable energy projects.
Another project within the complex is Elite Solar Green Energy, which focuses on manufacturing solar panels and related components. With investments worth $76 million, it has a production capacity of 3 gigawatts, and is expected to generate around 460 direct jobs and 130 indirect jobs.
Ahead of his tour of the economic zone, the prime minister also witnessed the signing of several agreements and contracts to set up two integrated renewable energy projects and domestic manufacturing facilities, with investments exceeding $1.8 billion.
He also inaugurated Egypt’s first factory for manufacturing high-quality SPC flooring in Sokhna. The $8-million project has an annual production capacity of up to 2 million square metres.
ALCHEMPro News Desk (DS)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
