SCZONE Signs New Contracts for 6 Chinese Projects with Total Investments Exceeding $1.067 Billion .. With Total Investments of $110 Million..SCZONE signed the contract of the first Bromine Production Plant in the Middle East and Africa
Mr. WDr. Mostafa Madbouly, the Egyptian Prime Minister, witnessed today, in the Chinese capital, Beijing, on the sidelines of the Forum on China Africa Cooperation (FOCAC), the signing ceremony for the “Shandong Tianyi Chemical” company project within the Suez Canal Economic Zone (SCZONE), which aims to establish a global industrial complex to using the concentrated seawater discharged from the local desalination plant as raw materials to produce bromine and bromine derivatives. It is the first project of its kind in the Middle East and Africa, as the project is being built on an area of 120 thousand square meters, with a total investment of $110 million US. Mr. Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), signed a general framework agreement that includes all project contracts with Mr. Maoan Lee, Chairman of Shandong Tianyi Chemical Company, and Mr. Li DaiXin, Chairman of the Board of Directors of Teda Egypt and Teda China Africa. The framework agreement also included a water supply contract for the production was signed from the Chinese side by Mr. Maoan Lee, Chairman of Shandong Tianyi Chemical Company, in addition to signing a usufruct contract between Mr. Waleid Gamal El-Dien, Chairman of SCZONE, and Mr. Maoan Lee, Chairman of Shandong Tianyi Chemical Company for a land area of 80 thousand square meters, to establish a bromine ore production plant next to the seawater desalination plant.
Dr. Mostafa Madbouly also witnessed the signing ceremony of a land usufruct contract between “Shandong Tianyi Chemical” and the industrial developer “TEDA-Egypt” to establish a bromine products facility within SCZONE on an area of 40 thousand square meters. The contract was signed by Mr. Maoan Lee, Chairman of Shandong Tianyi Chemical, and Mr. Li DaiXin, Chairman of TEDA Egypt and TEDA China Africa, in the presence of Mr. Waleid Gamal El-Dien, Chairman of SCZONE.
The Prime Minister also witnessed the signing ceremony of several contracts for various projects established within SCZONE, in the presence of Mr. Waleid Gamal El-Dien, Chairman of SCZONE. A land usufruct contract was signed between the industrial developer (Teda – Egypt) and China Glass Holding Company, to establish a glass production plant consisting of two production lines. The first line with a daily production of 800 tons of float glass and the second with a daily output of 800 tons of ultra-white rolled glass. The project aims to localize complementary industries to renewable energy projects. The expected annual production is 240,000 tons of high-quality glass and 230,000 tons of photovoltaic glass, in an area of 500,000 square meters, with total investments of $300 million. The project aims to provide 800 job opportunities. It targets the markets of Egypt, North Africa, the Middle East, and Europe, with an export capacity of up to 240,000 tons annually, and annual export revenues of up to $120 million. The contract was signed by Mr. Li DaiXin, Chairman of TEDA Egypt and TEDA China Africa, and Mr. Lv Guo, Chairman of China Glass Holding Company.
In addition, a land usufruct contract between the industrial developer “Teda – Egypt” and “Binhua (Befar) Group” for chemicals, to establish a project within SCZONE, to produce chlor-alkali with a capacity of 100,000 tons, on an area of 400,000 square meters, with a total investment cost of $500 million. The project provides 795 job opportunities, with construction work set to begin by the end of 2024 and end within 3 years. It aims to establish the first green chemical facility in Egypt and the world, as the project relies in its first phase on wind energy, solar energy, electricity, and natural gas to produce steam as energy. The contract was signed by Mr. Li DaiXin, Chairman of TEDA Egypt and TEDA China Africa, and Mr. Dong Hongbo, Senior Vice President of Binhua (Befar) Group.
A land usufruct contract was also signed between the industrial developer “Teda – Egypt” and “Elite Solar Company”, to establish a facility for the production of N-type solar cells with a capacity of 2 gigawatts, on an area of 77 thousand square meters within SCZONE, with a total investment of $ 100 million. The project aims to provide 600 job opportunities and aims to localize complementary industries to renewable energy projects, as well as bridge the gap in the new photovoltaic energy industry, and attract industrial clusters working in this field. The contract was signed by Mr. Li DaiXin, Chairman of TEDA Egypt and TEDA China Africa, and Mr. Liu Jingqi, Chairman of Elite Solar Company.
Dr. Mostafa Madbouly also witnessed the signing ceremony of a land usufruct contract between the industrial developer “Teda – Egypt” and Dahui Glucose & Tiba Starch Company, to establish a plant for the production of modified starch, on an area of 41 thousand square meters within SCZONE, with a total investment of $7.5 million. The project aims to fill the demand gap for modified starch in Egypt, the Middle East, and East Africa by producing 20 thousand tons annually in the first phase, with two more production lines to be added later with an annual production of 30 thousand tons, bringing the total production of the project to 50 thousand tons annually. The project also provides 156 direct job opportunities. The contract was signed by Mr. Li DaiXin, Chairman of TEDA Egypt and TEDA China Africa, and Mr. Hesham Hussein, Chairman of Tiba Starch Company, in the presence of Mr. Waleid Gamal El-Dien, Chairman of SCZONE.
In addition to signing a land usufruct contract between the industrial developer “Teda – Egypt” and Kaks Investment Company, to establish a specialized supporting park for the home appliances supply chain, including component manufacturing and bonded warehousing services, spare parts distribution, assembly, sheet metal processing centers, injection, and foam production. It enhances the deepening of local component manufacturing for the home appliances industry in Egypt, on an area of 80 thousand square meters within SCZONE, with a total investment of $ 50 million. The project also provides about 300 direct job opportunities. The contract was signed by Mr. Li DaiXin, Chairman of TEDA Egypt and TEDA China Africa, and Ms. Zhang Junni, Founder of KAKS Investment Company.
“These contracts reflect SCZONE’s success in gaining the confidence of various international investments, especially Chinese investments. SCZONE became the focal point for industry, and world trade and one of the most important hubs of international economic cooperation between the East and the West, in addition to being the arm of the economic development of Egypt that aims to localize targeted industries, reduce the import bill, and support Egyptian exports. The contracts were signed today with total investments exceeding $1.067 billion including the first project of its kind in Egypt, the Middle East, and Africa for the bromine industry, which is integrated with the chlor-alkali production project that was also signed today, reflecting the vision of SCZONE in establishing integrated industrial clusters, in addition to signing contracts for food products, supporting supply chains and energy production. These projects will provide 3,000 direct job opportunities.” Mr. Waleid Gamal El-Dien, Chairman of SCZONE declared.
On the sidelines of the forum the Prime Minister, held several meetings with major Chinese companies to review further cooperation opportunities within SCZONE in the presence of Mr. Walid Gamal El-Din, Chairman of SCZONE. A meeting was held with Tianjin TEDA Investment Holding Group for investment and establishment of industrial zones, China Southern Glass CSG Holding Company, which specialized in manufacturing solar cell glass, Great Wall Motors Company for manufacturing cars and trucks, and FAMSUN Integrated Solutions Company, specialized in manufacturing grain and grain storage silos and managing logistics zones.e country. Caustic soda and propylene oxide are included in the high-end chemical brand “Good Products Shandong”.
Source : SCZONE
