Latest news with #SCZONE
Zawya
7 hours ago
- Business
- Zawya
Egypt starts $200mln solar energy complex in Ain Sokhna
Egypt's General Authority for the Suez Canal Economic Zone (SCZONE) has laid the foundation stone for a $200 million integrated industrial complex in the Ain Sokhna industrial zone, which focuses on the production of solar energy components. The project is being developed by the Chinese company Sunrev Solar, within the scope of TEDA–Egypt, the industrial developer. The complex will cover an area of 200,000 square meters, with total investments amounting to $200 million. The project will be implemented in two phases: the first phase involves $90 million to establish two fully integrated factories for the production of solar cells (2 GW capacity) and solar modules (2 GW capacity). The second phase, with an investment of $110 million, will focus on localising the production of key raw materials, including silicon ingots and silicon wafers, alongside expanded production of modules and cells. This value-chain integration will boost Egypt's capacity in this strategic sector. The groundbreaking ceremony was attended by Wei Jianqing, General Manager of CA–TEDA Group; Cao Hui, Managing Director of TEDA, He Fei, Managing Director of Sunrev Solar, as well as senior SCZONE officials. The project contract was signed in the presence of Prime Minister Dr Mostafa Madbouly and Vice Prime Minister for Industrial Development, Minister of Industry and Transport, Lieutenant General Kamel El-Wazir. 'SCZONE is proud to host one of the largest industrial investments in the renewable energy components sector. This project represents a significant step forward in localising advanced industries in Egypt and enhancing industrial integration in clean energy, particularly solar power,' Mr. Waleid Gamal El-Dien, Chairman of SCZONE, declared. 'The project is not only an industrial development, but also a major socio-economic milestone. It is expected to generate over 1,800 direct job opportunities across both phases, in addition to thousands of indirect jobs. The choice of Sokhna reflects its competitive advantages, including its strategic location, modern infrastructure, integration with Sokhna Port, and the incentives SCZONE provides. We are fully committed to facilitating the timely execution of this project, which is expected to begin operations in the first half of 2026,' Waleid Gamal El-Dien, Chairman of SCZONE, added. 'We would like to express our sincere appreciation to SCZONE for their continuous support of the project. We are bringing to Egypt our most advanced technologies in solar energy, to combine Chinese speed and Egyptian wisdom to efficiently achieve the project's objectives. Egypt was chosen as the destination for this investment due to its clear national vision towards a sustainable energy future.' He Fei, Managing Director of Sunrev Solar said. -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Watani
2 days ago
- Business
- Watani
At USD20 million investment: New denim factory in SCZone
A factory for the manufacture of denim yarns, threads, and fabrics, the raw material used to manufacture various types of jeans, will be established in Qantara West Industrial Zone, west of the Suez Canal. The USD20 million contract that seals the agreement was signed on 23 June between Suez Canal Economic Zone (SCZONE) and the Turkish textile company ŞIRIKÇIOĞLU Grubu Textile Turkiye. The new factory, which will sprawl over some of 16,700 square metres, is expected to yield 18 million tons of fabric annually; it should cater for the needs of factories operating in Egypt, sad export some 50 per cent of its production. The denim factory will provide around 500 direct job opportunities. The contract was signed by Walied Gamal-Eldien, Chairman of the SCZONE, and Atef ŞIRIKÇIOĞLU, Chairman of the Turkish company. According to Gamal-Eldien, this project is the 25th contracted project in the Qantara West Industrial Zone, bringing total investments there to USD681.5 million, and providing 34,955 direct job opportunities. Şirikçioğlu was founded in Turkey in 1997 and is one of the leading companies in the production of denim yarns and fabrics, ranking first in this sector in the Turkish market. The company owns a group of specialised factories in Turkey, employing more than 5,000 employees, and exports its high-quality fabric products to many major international brands. Watani International 24 June 2025 Comments comments Tags: denim factory SCZoneMariam AdlyTurkish textile denim Egypt
Zawya
6 days ago
- Business
- Zawya
Egypt: SCZone inks $20mln denim project in Qantara West
Arab Finance: The General Authority of the Suez Canal Economic Zone (SCZONE) has signed a $20 million contract with Turkish company ?irikçio?lu Grubu to establish a denim manufacturing plant in the Qantara West Industrial Zone, as per a statement. The project will span 16,700 square meters and will focus on producing denim yarns, threads, and fabrics—the essential raw materials for jeans production. Half of the plant's annual output, projected at 18 million tons of fabric, will serve export markets, while the other half will meet the demands of local Egyptian factories. The facility is expected to create around 500 direct job opportunities. Chairman of SCZone Walid Gamal El-Din described the project as a significant step in SCZONE's broader strategy to localize high-value textile industries and enhance Egypt's export capacity. He noted that this marks the 25th project in the Qantara West Industrial Zone, bringing total investments there to $681.5 million and generating 34,955 direct job opportunities. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Watani
19-06-2025
- Business
- Watani
Solar energy industrial complex in SCZONE
The Ain Sokhna Industrial Zone, affiliated to the General Authority for the Suez Canal Economic Zone will soon be home to a new integrated industrial complex for the manufacture of solar energy components. Chinese Sunrev Solar Prime will be implementing the project. The construction contract for the new industrial complex was signed on 18 June 2025 by Cao Hui, Managing Director of TEDA, and He Fei, Managing Director of Sunrev Solar. TEDA was established in 2008 and is the main body of the development and construction of the China-Egypt TEDA Suez Economic and Trade Cooperation Zone, an important platform for enhancing production capacity cooperation between China and Egypt. Sunrev Solar is a major international solar‑components manufacturer, with 30 years of experience in the field. The signing ceremony was attended by Prime Minister Mostafa Madbouly; Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Lieutenant General Kamel al-Wazir; and Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE) Waleid Gamal Eldien. Under the contract, in the first phase of the project, two integrated factories will be constructed to produce two gigawatts of solar cells and two gigawatts of solar modules. The second phase includes the production of basic raw materials such as silicon ingots and silicon wafers, in addition to the cells and modules in the first phase. The Prime Minister pointed to the Suez Canal Economic Zone's assets and capabilities, which contribute to attracting more investments in various sectors. He noted the government's vested interest in new and renewable energy and the efforts to provide further facilitations and incentives for this promising sector to thrive. He highlighted current efforts to localise the manufacture of various components and supplies for new and renewable energy projects. According to the Chairman of SCZONE, this project is among the largest industrial investments in renewable energy supplies within the Suez Canal Economic Zone, spanning an area of 200,000 square meters. The total investments of the project, he said, are estimated at USD200 million in two phases: USD90 million for the first phase, and USD110 million for the second phase. The project is expected to contribute to the creation of more than 1,800 direct job opportunities over its two phases, in addition to achieving significant added value through the export of its products to regional and international markets, with expected annual revenues expected to rise up to USD300 million. The foundation stone for the project will be laid on 19 June, and the first phase of the project is expected to start operation in the first half of 2026. The project reflects the confidence of major international companies in the investment climate within the SCZONE, Mr Gamal Eldien stressed, and reinforces SCZONE's strategy to localise advanced industries and integrate solar energy production and supply chains, making the production chain in Egypt complete, from raw materials to the final product. Mr Gamal Eldien assured SCZONE's commitment to providing all necessary facilities and support to ensure the rapid implementation of the project according to the targeted timeline. Watani International 18 June 2025 Comments comments Tags: Lillian NabilSolar energy industrial complex SCZONE
Zawya
19-06-2025
- Business
- Zawya
Egypt: SCZone, UR-SA sign $20mln contract to build packaging plant in Qantara West
Arab Finance: The General Authority for the Suez Canal Economic Zone (SCZONE) has signed a new investment contract with Turkish company UR-SA to establish an industrial textiles and plastic packaging facility in the Qantara West Industrial Zone, as per a statement. The project, covering 35,000 square meters, will see investments totaling $20 million, equivalent to EGP 1 billion. The facility is expected to create 1,000 direct job opportunities. It will focus on producing industrial and agricultural packaging materials, including FIBCs (large bags), with 80% of output designated for export. SCZone Head Waleid Gamal El-Dien stated that this project marks the 23rd in Qantara West, raising total investments in the zone to $643.5 million and the number of direct jobs created to over 33,600. He emphasized that the economic zone is intensifying its efforts to attract investments in industries targeted for localization, with a focus on deepening industrial output, boosting exports, and strengthening supply chain integration. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
