New Chinese project between SCZONE and “Xinxing” for cast pipes

Within the framework of the promotional tour of the Suez Canal Economic Zone (SCZONE) delegation to the Chinese capital Beijing, Mr. Walied Gamal El-Dien Chairman of SCZONE met with Mr. Jia Shirui, Chairman of the Board of Directors of Xinxing Cast Pipe Industries Group, in continuation the talks of the meeting held last March between Prime Minister Dr. Mostafa Madbouly and officials of the Chinese companies “TEDA” and ” Xinxing” to review the project of producing cast pipes and steel industry with investments $ 2 billion, within “TEDA – Egypt” area located in SCZONE.

The visit of SCZONE delegation came on its Chinese tour to -the company’s headquarter in Beijing- to discuss the most important requirements of the existing cooperation between the two sides to establish the project and accelerate the pace of moving forward in negotiations and business in the coming months.

“We are happy to cooperate with Xinxing to produce cast iron and ductile iron pipes. The land is provided for the construction of the project within the integrated industrial zone of Sokhna. We affirm SCZONE’s keenness to support its investors through its utilities that include water plants, electric stations, gas networks, and a giant road network. In addition, the area allocated for the factory is located near Sokhna Port, which facilitates the export of the factory’s products to various target international markets. The factory’s activity copes with SCZONE’s strategic plan for industries targeted for localization. SCZONE is always ready to support serious investment in accordance with the directives of the Egyptian president to provide many direct and indirect investment incentives to investors.”
Gamal El-Dein declared

“The project is scheduled to be built in SCZONE, with the products of the first and second phases mainly exported. The first phase targets the production of 250,000 tons of ductile iron pipes per year. The second phase of the project also targets the production of 500,000 tons of pipes per year, in addition to 15,000 tons of castings per year. We appreciate the efforts of the Egyptian country to create an attractive investment environment and emphasize the importance of fruitful cooperation with SCZONE, which reflects the full support received by Chinese investments inside Egypt.”
Xinxing Chairman announced

After the meeting, the General Manager of the Group accompanied the delegation of the Economic Zone on a tour inside the showroom dedicated to the company to review the products and industries of the Group, many of which are involved in the manufacture of cast pipes and some stainless steel industries in astronaut clothing, head coverings, and others, and the tour also touched on explaining the applications for the use of cast pipes and all the products that the company is working on.