- August 8, 2023
- Posted by: Ahmed Abed
- Category: 2023, EN
Mr. Waleid Gamal El-Dien, The Chairman of the Suez Canal Economic Zone (SCZONE), witnessed this morning the inauguration of the new dishwasher’s production line for the Chinese factory (Midea) within the Chinese developer TEDA, inside Sokhna integrated zone. This comes as a reflection of the successful promotional tour SCZONE delegation made to China last May, which included a visit to Midea HQ in Guangzhou, China, and an agreement on the official opening of the production line to launch the first Egyptian-made product during August for export to the local and foreign markets.
“We are really pleased with the presence of Midea in SCZONE, and the operation of the new production line for dishwashers, aiming to meet the needs of the local home appliances market and export to global markets. SCZONE’S strategic location and the integration between its affiliated industrial zones and ports facilitate the export of products and goods to various markets, especially since SCZONE enjoys the advantages of free international trade agreements with many countries of the world. SCZONE continues to provide full support to all investors through various financial and non-financial investment incentives packages. Midea’s expansion of production lines in Egypt boosts its exports to foreign markets. The company’s presence in SCZONE pushes its exports to neighboring markets to increase, due to the proximity of Sokhna Port to the Sokhna Industrial Zone in which the factory is located.” SCZONE Chairman announced during the launching ceremony.
“ Midea is proud to have taken the decision to invest in SCZONE, where the company invested $137 million in paid-up capital. Last July the company received the golden license for an investment of $ 110 million in dishwasher products, 90% of which is allocated for export, aiming to create about 1,500 jobs. The company has other successful products of gas heaters, heat coolers, and appliances being produced inside the new factory in the coming months. We are pleased to announce the opening of a logistics zone dedicated to exporting the company’s products abroad by the end of this year within SCZONE. Midea has become absolutely confident in the investment climate in the Egyptian market where it has been present since 2010 through Miraco as an authorized agent for refrigeration and air conditioning products.” Mr. Amr Said, Chairman of Carrier Egypt and Africa declared
“We are delighted with the full support that TEDA Egypt receives from SCZONE and its support for Chinese investment, which strongly enhances the presence of these investments in many industrial sectors. We are aligned with SCZONE management in its investment plans to attract more investments within the industrial developer TEDA and encourage existing companies to establish expansions in Sokhna zone. We also work to meet the needs of the local market regarding the requirements and products of these projects.” Song Caicen, Executive Director of TEDA-Egypt stated
It is noteworthy that the factory of Midea Company, located within Sokhna Integrated Zone began construction in 2021 on an area of 60K m2, within the industrial developer TEDA Egypt. The trial operation of the factory’s dishwasher production line began last March, with a production capacity of 1.5 million washing machines per year, at an investment cost of $ 25 million. The plant will create 270 jobs, out of a total of 1,500 jobs over future expansions.
