Latest news with #Sokhna
Zawya
an hour ago
- Business
- Zawya
Egypt: Badawi follows up on NATA's operational status, LNG facilities
Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi has inspected the main control center at National Advanced Transmission and Automation Center (NATA), affiliated with the Egyptian Natural Gas Co. (GASCO), in New Cairo, according to a statement. Badawi followed up on the operational status of the natural gas pumping system through the national grid, monitoring the efficient operation and flow of gas from local production. He also checked the output from the three liquefied natural gas (LNG) facilities currently operating at the SUMED and Sonker ports in Sokhna. The minister affirmed continuing efforts to ensure the sustainable provision of natural gas to meet the needs of the local market, mainly the electricity and industrial sectors, amid an increase in electrical loads during the summer period. The government succeeded in securing the electricity sector's fuel and gas needs during the past few days, when the temperature rose, Badawi added. He attributed this achievement to the national grid operating scenarios and developed maneuvers to address emergencies. Meanwhile, the petroleum ministry is joining forces with the Ministry of Electricity and Renewable Energy to determine the electricity sector's gas needs and ensure their fulfillment, relying on the agreed-upon imported LNG shipments. Finally, Badawi emphasized that the state cooperates with all its relevant agencies to secure the local market's fuel and natural gas needs, ensuring the stability of the energy system and serving the goals of economic development. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
5 days ago
- Business
- Zawya
Egypt: SCZone, Nile Plastic Recycling seal deal for new PET recycling facility in Sokhna Industrial Zone
Arab Finance: The Suez Canal Economic Zone (SCZone) and Nile Plastic Recycling Company signed an agreement to establish a new polyethylene terephthalate (PET) recycling facility in the Sokhna Integrated Industrial Zone, according to a statement. With an additional investment of $15 million (EGP 742 million), the project will cover an area of 10,000 square meters and provide about 500 direct job opportunities. Its annual production capacity will stand at 20,000 tons of processed plastic waste, with 70% of the production allocated for export to foreign markets. Only 30% of production will be directed to meet the needs of the local market. This supports the state's objectives to increase industrial exports and enhance the added value of Egyptian recycled products. It is worth noting that PET is a key raw material used in food-grade plastic bottles. Waleid Gamal El-Dien, the Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), emphasized that this expansion reflects the authority's commitment to supporting the green economy and promoting sustainability. Gamal El-Dien said the recycling projects mark a fundamental pillar in the efforts to transition to a clean, low-emission industry, contributing to lowering resource loss, creating job opportunities, and enhancing the global competitiveness of Egyptian products. The Nile Plastic Recycling project inked the first contract in November 2024 to establish a factory on an area of 12,000 square meters to recycle polyethylene terephthalate (PET) bottles into recycled materials (rPET) suitable for food use, with initial investment amounted to $20 million, providing 500 jobs. The first phase is expected to commence operations in the first half (H1) of 2026. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
5 days ago
- Business
- Zawya
SCZONE, MDC, TEDA Egypt ink $100 deal for joint project in Sokhna Industrial Zone
Arab Finance: The General Authority for Suez Canal Economic Zone (SCZONE), the Main Development Company (MDC), and TEDA Egypt inked a joint deal for a project in the Sokhna Industrial Zone, with a total investment of $100 million, according to a statement. The signing aligns with TEDA Egypt's near completion of the development of the previously allocated 7,000 square meters, bringing the total allocated area to about 10,000 square meters. The agreement covers transferring the usufruct rights for a 2,860-square-meter plot of land within the Sokhna Industrial Zone, which will contribute to attracting more diverse investments and creating integrated and sustainable industrial communities. Prime Minister Mostafa Madbouly stressed the importance of this cooperation in accelerating industrial development within the SCZONE, highlighting its potential and capabilities to become one of the region's major manufacturing and logistics centers. Madbouly noted that the state is working to foster partnerships with the local and foreign private sector to boost development and create job opportunities. For his part, Waleid Gamal El-Dien, the Chairman of the SCZONE, said the deal marks a strategic step toward strengthening the development system within the Sokhna Integrated Industrial Zone. It also backs the authority's efforts to maximize the investment value of industrial lands and make the most of the available infrastructure, Gamal El-Dien noted. It is worth highlighting that the economic zone succeeded in attracting Chinese investments exceeding $4 billion over the past three years. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
5 days ago
- Business
- Zawya
SCZone, Nile Plastic Recycling seal deal for new PET recycling facility in Sokhna Industrial Zone
Arab Finance: The Suez Canal Economic Zone (SCZone) and Nile Plastic Recycling Company signed an agreement to establish a new polyethylene terephthalate (PET) recycling facility in the Sokhna Integrated Industrial Zone, according to a statement. With an additional investment of $15 million (EGP 742 million), the project will cover an area of 10,000 square meters and provide about 500 direct job opportunities. Its annual production capacity will stand at 20,000 tons of processed plastic waste, with 70% of the production allocated for export to foreign markets. Only 30% of production will be directed to meet the needs of the local market. This supports the state's objectives to increase industrial exports and enhance the added value of Egyptian recycled products. It is worth noting that PET is a key raw material used in food-grade plastic bottles. Waleid Gamal El-Dien, the Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), emphasized that this expansion reflects the authority's commitment to supporting the green economy and promoting sustainability. Gamal El-Dien said the recycling projects mark a fundamental pillar in the efforts to transition to a clean, low-emission industry, contributing to lowering resource loss, creating job opportunities, and enhancing the global competitiveness of Egyptian products. The Nile Plastic Recycling project inked the first contract in November 2024 to establish a factory on an area of 12,000 square meters to recycle polyethylene terephthalate (PET) bottles into recycled materials (rPET) suitable for food use, with initial investment amounted to $20 million, providing 500 jobs. The first phase is expected to commence operations in the first half (H1) of 2026. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
03-07-2025
- Business
- Zawya
Egypt: SCZONE's Chairman witnesses laying foundation stone of $70mln Deli Glassware project
Arab Finance: Waleid Gamal El-Dien, the Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), witnessed the groundbreaking ceremony for the Deli Glassware project, according to a statement. The project has an investment cost of $70 million, equivalent to EGP 3.5 billion. It spans an area of 120,000 square meters within the scope of the industrial developer "Egypt TEDA" in the Sokhna Integrated Zone. Meanwhile, the facility will offer 500 direct job opportunities, targeting to export 80% of its production. The project will be implemented in two phases, with the first phase expected to launch during the second half (H2) of 2026. Gamal El-Dien pointed out that the SCZONE has witnessed contracts for 297 projects in its ports and industrial zones over the past three years, with total investments reaching $8.5 billion. These include 121 projects in the current fiscal year (FY), which ended on June 30 th, 2025, with investments totaling $4.4 billion. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
