With investments of $300 million SCZONE celebrating the foundation stone Ceremony for the “New Energy Glass” project in Sokhna

Mr. Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), witnessed this morning the foundation stone ceremony for the project of the Chinese company “CNG Egypt New Energy Glass” affiliated with “China Glass Holding”, in the Sokhna Industrial Zone, within the scope of the industrial developer (Teda-Egypt). The project aims to establish a production line for flat glass with a daily capacity of 1,000 tons, and a production line for photovoltaic glass with a daily capacity of 800 tons, on an area of 500 thousand meters Square and a total investment of $300 million, providing 1,000 job opportunities upon completion of the project. The ceremony was held in the presence of Mr. Li DaiXin, Chairman of the Board of Directors of “TEDA- Egypt” and “TEDA -China Africa”, and Mr. Cai Guo, Vice President of “China Glass Holding” Company.

“We are proud of the partnership between SCZONE and Chinese investments, which presented an exemplary model for economic cooperation based on mutual trust and teamwork. SCZONE has become a destination for Chinese investments seeking development and growth through the presence of SCZONE’s ports on the Red Sea and the Mediterranean Sea, which provide tremendous opportunities to enhance maritime trade, in addition to industrial zones qualified to receive all types of industries.” Mr. Waleid Gamal El-Dien, Chairman of SCZONE declared.

” The “New Energy Glass” project adds a new chapter to the successes of cooperation between SCZONE and Chinese investments. The project is significant in supporting complementary industries to renewable energy projects through the production of flat glass and photovoltaic glass, which are used in producing solar panels. I also want to confirm our full support for the industrial developer (Teda-Egypt) to attract more Chinese companies, which have reached nearly 200 companies so far.” Mr. Waleid Gamal El-Dien, Chairman of SCZONE added.

“We appreciate SCZONE’s support for the project to reach the production stage, as our company is adopting a strategy aimed at reducing carbon emissions in its products, as a contribution to the global transition to a green economy.” Mr. Cai Guo, Vice President of “China Glass Holding” Company said.”

“SCZONE provides continuous support to the TEDA-Egypt industrial park and the companies operating there. 2024 marks 10 years of comprehensive strategic relations between Egypt and China and it also represents a development in the cooperation between TEDA-Egypt and SCZONE, as 19 companies have been attracted to work in the Sokhna Industrial Zone, and the “New Energy Glass” project is the largest among them in terms of area and investment volume.” Mr. Li DaiXin, Chairman of TEDA -China Africa added.”

It is worth noting that 6 projects have been contracted for Chinese investments to be established within SCZONE, with total investments exceeding $1.067 billion and a total area of up to 1.2 million square meters, on the sidelines of the promotional tour conducted by the Chairman of SCZONE in China last September and this project was one of them.