Latest news with #SCZONE
Watani
a day ago
- 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
a day ago
- 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. (
Zawya
2 days ago
- Business
- Zawya
Egypt's SCZONE signs $18mln agreement with Turkish Ulusoy to establish yarn factory in West Qantara
Egypt - Waleid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), signed an agreement on Wednesday with Turkish company Ulusoy Tekstil San. Tic. A.Ş to establish a yarn and textile production factory in the West Qantara Industrial Zone. Spanning 35,000 square metres, the project will see total investments of $18m (approximately EGP 902m), fully self-financed by Ulusoy. It is expected to create around 855 direct job opportunities. The new factory will produce a variety of yarns—including fibre yarns, carpet yarns, hand-knitting yarns, tricot yarns, and household crochet yarns—alongside the manufacturing and weaving of ready-made garments. The company plans to allocate 80% of its production for export and 20% to the domestic market. The agreement was signed by Mohamed Ulusoy, legal representative of the company, in the presence of several SCZONE officials and company executives. Gamal El-Din praised the growing status of the West Qantara Industrial Zone as a regional hub for the textile, spinning, and ready-made garment industries. He highlighted the zone's strategic advantages, including an integrated supply chain, robust infrastructure, and a prime location connected to SCZONE's port network and logistics corridors. He noted that this project builds on the zone's success in attracting high-quality international investments, citing Egypt's stable business environment and the attractive incentives offered by SCZONE. 'This investment reflects the zone's appeal to labour-intensive, export-oriented industries that generate local added value,' he said. The Ulusoy project is the 24th agreement signed within the West Qantara Industrial Zone, raising total investments in the area to $661.5 million and bringing the number of direct jobs created to 34,455. Gamal El-Din said the deal demonstrates the success of SCZONE's strategy to support export-driven industries, deepen local manufacturing, and localise supply chains across the textile sector—from raw materials to yarn, textiles, and finished garments. Founded in 1986, Ulusoy is one of Europe's largest producers of high-quality yarns. It operates two fully integrated production facilities in Turkey: one in Adana Hacı Sabancı Industrial Zone covering 180,000 sqm, and another in Osmaniye Industrial City spanning 90,000 sqm. The company has a monthly production capacity of over 1,000 tonnes and exports its products to global markets. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Zawya
2 days ago
- Business
- Zawya
China's Sunrev to invest $200mln in solar component industrial complex in Egypt's Sokhna
Egypt - 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.
Daily News Egypt
2 days ago
- Business
- Daily News Egypt
SCZONE signs $18m agreement with Turkish Ulusoy to establish yarn factory in West Qantara
Waleid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), signed an agreement on Wednesday with Turkish company Ulusoy Tekstil San. Tic. A.Ş to establish a yarn and textile production factory in the West Qantara Industrial Zone. Spanning 35,000 square metres, the project will see total investments of $18m (approximately EGP 902m), fully self-financed by Ulusoy. It is expected to create around 855 direct job opportunities. The new factory will produce a variety of yarns—including fibre yarns, carpet yarns, hand-knitting yarns, tricot yarns, and household crochet yarns—alongside the manufacturing and weaving of ready-made garments. The company plans to allocate 80% of its production for export and 20% to the domestic market. The agreement was signed by Mohamed Ulusoy, legal representative of the company, in the presence of several SCZONE officials and company executives. Gamal El-Din praised the growing status of the West Qantara Industrial Zone as a regional hub for the textile, spinning, and ready-made garment industries. He highlighted the zone's strategic advantages, including an integrated supply chain, robust infrastructure, and a prime location connected to SCZONE's port network and logistics corridors. He noted that this project builds on the zone's success in attracting high-quality international investments, citing Egypt's stable business environment and the attractive incentives offered by SCZONE. 'This investment reflects the zone's appeal to labour-intensive, export-oriented industries that generate local added value,' he said. The Ulusoy project is the 24th agreement signed within the West Qantara Industrial Zone, raising total investments in the area to $661.5 million and bringing the number of direct jobs created to 34,455. Gamal El-Din said the deal demonstrates the success of SCZONE's strategy to support export-driven industries, deepen local manufacturing, and localise supply chains across the textile sector—from raw materials to yarn, textiles, and finished garments. Founded in 1986, Ulusoy is one of Europe's largest producers of high-quality yarns. It operates two fully integrated production facilities in Turkey: one in Adana Hacı Sabancı Industrial Zone covering 180,000 sqm, and another in Osmaniye Industrial City spanning 90,000 sqm. The company has a monthly production capacity of over 1,000 tonnes and exports its products to global markets.
