Latest news with #SCZone
Al-Ahram Weekly
15 hours ago
- Business
- Al-Ahram Weekly
Nile Plastic Recycling Company expands with $15 mln investment in SCZone - Economy
The Suez Canal Economic Zone (SCZone) announced Tuesday the expansion of the Nile Plastic Recycling Company's project in Ain Sokhna, with an additional $15 million investment aimed at establishing a new polyethylene terephthalate (PET) recycling facility. The agreement was signed in the New Administrative Capital in the presence of SCZone Chairman Walid Gamal El-Din. According to a statement from the General Authority for the SCZone, the new investment—equivalent to around EGP 742 million—will fund a 10,000-square-metre facility designed to process PET, the key raw material used in food-grade plastic bottles. The expansion is expected to create 500 new direct job opportunities and produce 20,000 tons of processed plastic waste annually. The project will export 70 percent of its output, with the remaining 30 percent allocated to the local market, aligning with Egypt's broader industrial export strategy and efforts to increase the value of domestically recycled products. The Nile Plastic Recycling Company initially launched in November 2024 with $20 million in capital. Its first facility spans 12,000 square metres and is expected to begin operations in the first half of 2026. Gamal El-Din praised the company's progress in the first phase and said the expansion reflects growing investor confidence in the industrial environment of the SCZone. He added that the move aligns with the zone's green economy strategy and Egypt's broader push toward sustainable, low-emission industries. 'We continue to attract quality investments in the circular economy and green transformation,' Gamal El-Din said, noting that recycling projects are a core pillar of this transition. The signing ceremony was attended by senior SCZone officials and company representatives. Follow us on: Facebook Instagram Whatsapp Short link:
Watani
2 days ago
- Business
- Watani
Turkish Hayat Egypt opens USD44m factory in SCZone
On 13 July, the foundation stone was laid for new production lines for the Turkish 'Hayat Egypt' factory for hygienic products in the Suez Canal Economic Zone (SCZONE) in Sokhna. Waleid Gamal El-Dien. Chairman of the General Authority of SCZONE attended the event. Also attending were Governor of Suez, Major General Tarek El-Shazly; Turkish Ambassador to Cairo, Salih Mutlu Şen; Şenol Keserlioglu, General Manager of Hayat Egypt; in addition to a number of SCZONE executive leaders, and representatives of the industrial developer Orascom Industrial Parks. At an investment of USD44 million, the factory is being built on an area of 30,000 sq.m in the Orascom Industrial Parks developer's zone inside the Sokhna Integrated Zone. The new expansions, which will create more than 400 direct job opportunities, will target the production of non-woven hygienic products. Some 75 per cent of the total production is allocated for export. Operating is expected to start in March 2026. 'SCZone has recently succeeded in attracting diverse investments in sectors targeted for localisation in Egypt,' Mr Gamal El-Dien said. 'The expansions of 'Hayat Egypt' add a new chapter to Turkish investments within the SCZone, which now number 18 companies in various sectors, most notably textiles and ready-made garments, and hygiene products. Their total investments have reached some USD793.8 million, including 10 companies in the Sokhna integrated zone with investments of USD508 million, and eight companies in West Qantara with investment costs of USD285.8 million. 'The Turkish expansions reflect the great confidence of investors in the investment climate within SCZONE. It comes as a result of vigorous promotional efforts SCZONE is exerting, and the massive investments it has injected to set up infrastructure and facilities according to the latest international standards. This in addition to the efforts to digitise the one-stop-shop services to improve investor experience and overcome the challenges they face.' Watani International 14 July 2025 Comments comments Tags: Mariam AdlyTurkish Hayat Egypt sanitary
Zawya
2 days ago
- Business
- Zawya
Egypt: SCZone attracts $8.5bln investments over 3 years
Arab Finance: The General Authority for the Suez Canal Economic Zone (SCZone) has succeeded in attracting investments totaling $8.5 billion over the past three years, according to a statement. These investments mark the signing of 297 projects from various nationalities across the SCZone's ports and industrial zones These contracts include 121 projects, secured in fiscal year (FY) 2024/2025, with investments of $4.4 billion. The authority attributed these achievements to the development of world-class infrastructure and facilities, as well as the development of one-stop services for investors. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
7 days ago
- Business
- Zawya
Egypt's SCA explores maritime, logistics cooperation with Thailand
Arab Finance: The Chairman of the Suez Canal Authority (SCA) Osama Rabie met with Thanawat Sirikul, Ambassador of Thailand to Cairo, to discuss joint cooperation in maritime services and logistics, the SCA stated on July 7th. Rabie welcomed the ambassador and his accompanying delegation, expressing hopes to strengthen economic ties and promote knowledge exchange and technology transfer between the two countries in mutually beneficial sectors. Moreover, he said that the Suez Canal is undergoing a radical transformation as it broadens its economic activities and diversifies its sources of income. These include fuel supply, marine rescue, crew replacement, and waste collection, in addition to plans to expand shipbuilding, repair, and maintenance services at the canal's affiliated shipyards and companies. Sirikul affirmed Thailand's interest in deepening cooperation, particularly in port services, canal operations, and training. He also discussed potential collaboration in maritime tourism, citing the Suez Canal Economic Zone's (SCZone) attractive location and tourism potential. The ambassador said efforts are underway to boost outbound tourism between Egypt and Thailand in the near future. Both sides agreed to establish a joint working group to translate the discussions into practical initiatives aimed at fostering bilateral cooperation. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
The Star
03-07-2025
- Business
- The Star
Chinese glassware manufacturer Deli to invest 70 mln USD in Egypt
CAIRO, July 3 (Xinhua) -- Chinese glassware manufacturer Deli Glass Group will invest 70 million U.S. dollars in Egypt to produce household glassware, the company's chairperson has announced. Shi Weidong, chairman of the company's board of directors, announced at a groundbreaking ceremony on Wednesday at the China-Egypt TEDA Suez Economic and Trade Cooperation Zone southeast of Cairo. According to Shi, the project's first phase is expected to achieve the construction of a high-standard glass furnace with a daily melting capacity of 250 tonnes and advanced automated production lines. "The site will focus on producing high-quality household glassware and aims to become a modern industrial cluster integrating research and development, manufacturing, advanced processing, packaging, logistics, and export of household glassware," Shi said. Wei Jianqing, general manager of China-Africa TEDA Investment Co., Ltd., the developer of the cooperation zone, said that the large-scale project will create a significant number of high-quality jobs for Egypt and also help advance the country's glass manufacturing technology and enhance its standing in the global industry. Waleid Gamal El-Dein, chairman of the General Authority of Egypt's Suez Canal Economic Zone (SCZone), said the project is expected to diversify and strengthen Egypt's industrial chain, create jobs for Egyptian youth, and contribute to advancing the country's industrial development. According to a statement issued by the SCZone on Wednesday, the project will cover an area of 120,000 square meters and be built in two phases. The first phase is expected to be inaugurated in the second half of 2026 and create 500 jobs.
