Chinese companies flock to Egypt’s SCZONE

Chinese companies flock to Egypt’s SCZONE

Egypt's Suez Canal Economic Zone (SCZONE) has secured more than $3 billion in investments from Chinese companies in chemical, textile/apparel, power, pipes, and iron & steel industries.

Several investment agreements and commitments were secured during the visit by Walid Gamal El-Din, Chairman, Suez Canal Economic Zone (SCZONE) to China last week.

According to compiled data by Zawya Projects, the list of projects includes:

Agreements totaling $310 million with Shandong Tianyi Company

Shandong Tianyi Company plans to establish bromine and caustic soda production plants in TEDA Suez, with a total investment of $310 million. The bromine production plant, valued at $110 million, will cover an area of 270,000 square meters and have an annual production capacity of 140,000 tonnes.

The caustic soda plant, valued at $200 million and spanning 300,000 square meters, will produce 500,000 tonnes of raw salt, 300,000 tonnes of soda ash, 270,000 tonnes of chlorine, and 75,000 tonnes of hydrogen annually.

An agreement worth $12 million with Golden Spring Group

A subsidiary of Golden Spring Group signed an agreement for a textile project covering 66,000 sqm, with an investment of $12 million.

Agreements worth $365 million with Hidier Power Group

Hidier Power Group signed two agreements with China-Africa TEDA Investment Co. The first agreement, valued at $265