Latest news with #TEDA
The Star
16-07-2025
- Business
- The Star
Egypt, China sign deal for flagship industrial zone expansion
CAIRO, July 16 (Xinhua) -- Egypt and China signed on Wednesday a deal for the expansion of the China-Egypt TEDA Suez Economic and Trade Cooperation Zone, with Chinese developer TEDA set to invest 100 million U.S. dollars in infrastructure to develop an additional 2.86 square kilometers at the Suez Canal Economic Zone (SCZone). The deal was signed between the SCZone, the Main Development Company (MDC), and TEDA Egypt in a ceremony attended by Egyptian Prime Minister Mostafa Madbouly, the Egyptian cabinet said in a statement. The expansion comes as TEDA nears completion of its previously allocated 7.34 square kilometers in Ain Sokhna area at the SCZone, bringing the total area of its industrial zone to more than 10 square kilometers, according to the statement. The 100-million-U.S.-dollar infrastructure investment is expected to help attract more diverse industrial investments and support the SCZone's goal of building integrated and sustainable industrial communities. Madbouly stressed "the importance of this cooperation in accelerating industrial development within the SCZone, whose capabilities qualify it to become one of the most important manufacturing and logistics hubs in the region." He said Egypt is working to strengthen partnerships with local and foreign private sectors to drive development and create jobs, praising the SCZone's achievements that have fueled developers' desire for further expansion. Established in 2008, the China-Egypt TEDA Suez Economic and Trade Cooperation Zone has become one of the SCZone's most prominent industrial hubs, having attracted 185 companies and over 3 billion U.S. dollars in cumulative investment. SCZone chairman Waleid Gamal Eldien said that the TEDA expansion "represents a new platform for localizing targeted industries within the zone and contributes to attracting more Chinese companies seeking access to regional and global markets." He noted that the SCZone has attracted Chinese investments exceeding 4 billion U.S. dollars over the past three years, adding that "the mutual trust between both sides and their shared goals pave the way to double this figure in the coming period." Cao Hui, executive director of Egypt-TEDA SEZone Development Company, told Xinhua that TEDA is committed to high-quality development in line with the Belt and Road Initiative and continues to advance the strategic upgrading of the TEDA zone. TEDA plans to fully develop the expanded area within 2 to 3 years, focusing on attracting high-end manufacturing enterprises, including those in new energy, new materials, automobiles and spare parts, and fine chemicals, Cao added.
Zawya
30-06-2025
- 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
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
Daily News Egypt
18-06-2025
- Business
- Daily News Egypt
China's Sunrev to invest $200m in solar component industrial complex in Egypt's Sokhna
Prime Minister Mostafa Madbouly witnessed on Wednesday the signing of a contract to establish an integrated industrial complex for the production of solar energy components in Ain Sokhna's industrial zone, part of the Suez Canal Economic Zone (SCZONE). The project will be developed by Chinese firm Sunrev Solar. The contract was signed by Cao Hui, Managing Director of TEDA, and Qi Fei, Managing Director of Sunrev Solar, in the presence of Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel Al-Wazir, and Chairperson of SCZONE Walid Gamal El-Din. The project will involve the construction of two integrated factories in its first phase: one for producing solar cells and another for solar modules, each with a capacity of 2 gigawatts. The second phase will focus on localising the production of key raw materials—such as silicon ingots and wafers—completing the full solar component value chain. Prime Minister Madbouly highlighted the strategic advantages of SCZONE in attracting diverse investments, especially in renewable energy. He reiterated the government's commitment to localising new and renewable energy technologies and providing incentives to support their growth. SCZONE Chairperson Walid Gamal El-Din described the project as one of the zone's largest industrial investments in renewable energy components. Spanning 200,000 square metres, the project will see a total investment of $200m—$90m for the first phase and $110m for the second. It is expected to create over 1,800 direct jobs across both phases and generate annual export revenues of up to $300 million. The foundation stone will be laid on Thursday, with the first phase scheduled to begin operations in the first half of 2026. Gamal El-Din emphasised that the project reflects the confidence of major international investors in SCZONE's business climate and supports the authority's broader strategy to localise advanced industries and integrate solar energy production chains—from raw materials to finished products. He reaffirmed SCZONE's commitment to providing all necessary support to ensure the project's timely execution. Sunrev Solar is one of the world's leading manufacturers of solar energy components. This investment aligns with Egypt's national strategy to transition to a green economy, promote clean energy industries, and advance the goals of Egypt's Vision 2030 and Sustainable Development Strategy.
Egypt Today
18-06-2025
- Business
- Egypt Today
Prime Minister Witnesses Signing of $200 Million Solar‑Energy Supplies Complex Deal
Cairo - 18 June 2025: Prime Minister Mostafa Madbouly presided over the signing ceremony this morning for the establishment of an integrated industrial complex dedicated to manufacturing solar‑energy components in the Ain Sokhna industrial zone, part of the Suez Canal Economic Zone. The project is being executed by Chinese firm Sunrev Solar . The contract was signed by Tsao‑Kai, Managing Director of TEDA, and Chi Fai, Managing Director of Sunrev Solar . Attendees included Deputy Prime Minister and Minister of Industry and Transport Engineer Kamel El‑Wazir, as well as Walid Gamal Eldin, Chairman of the Suez Canal Economic Zone Authority . The first phase of the project includes the construction of two state‑of‑the‑art factories—one for solar cells and another for solar modules—each with an initial capacity of 2 GW. A future second phase will localize production of primary raw materials such as silicon ingots and wafers . Prime Minister Madbouly highlighted the strategic advantages of the Suez Canal Economic Zone in attracting investment across various sectors. He emphasized that the renewable-energy sector is receiving increasing incentives and support, especially efforts aimed at localizing the manufacturing of solar‑energy components . Walid Gamal Eldin described the project as one of the Suez Zone's largest renewable‑energy component investments. The complex will span 200,000 m² with total investment of $200 million—$90 million allocated for the first phase and $110 million for the second. It is expected to generate over 1,800 direct jobs and produce exports worth an estimated $300 million annually . He added that the groundbreaking ceremony will take place on Thursday, June 19, 2025, with the first phase expected to be operational in the first half of 2026. The project reflects global confidence in Egypt's investment climate and complements the Authority's strategy to fully localize the solar‑energy supply chain—from raw materials to finished products . Sunrev Solar is recognized as a major international solar‑components manufacturer. This agreement supports Egypt's broader green‑economy ambitions under the Egypt Vision 2030 and its sustainable‑development strategy .
