$50mln investment fuels green energy industrial complex in Egypt’s SCZONE

$50mln investment fuels green energy industrial complex in Egypt’s SCZONE

Egypt - Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), alongside Mohamed El Demerdash, Managing Director of Injazat, and Jeff Kaye, General Manager of CHINT Global, have inked a strategic cooperation agreement to create an expansive industrial complex dedicated to green energy technology. This complex will cover 2 million square meters within the SCZONE. The formal framework agreement and associated feasibility studies are slated for completion in 2024. The signing ceremony was held at the SCZONE’s pavilion during the COP28 event in the UAE. Gamal El-Din expressed that this initiative aligns with SCZONE’s commitment to a green economy and mirrors Egypt’s strategic vision for the energy sector. Additionally, Gamal El-Din oversaw the signing of a project agreement with Jushi to supply the company’s factory with 7 megabytes of solar-generated electricity. This project will be managed by the Injazat and CHINT Global alliance. He also attended the contract signing for land allocation to ElSewedy Industrial Development Company and Jushi, a leading fiberglass producer, to expand the existing factory within the “Industria Sokhna” project. The agreement, signed by Mohamed El-Kammah, CEO of ElSewedy Industrial Development, and Ma Chenyao, Deputy General Manager of Jushi Egypt, aims to construct a 60,000-square-meter