SCZONE has bilateral talks with Chinese heavy industries companies

In the framework of completing the intense activity of the delegation of the Suez Canal Economic Zone (SCZONE), during their promotional tour in China, Mr. Waleid Gamal El-Dien, Chairman of SCZONE, concluded his tour in Beijing by holding bilateral talks and meetings with the Chairman of the Shen Feng Iron Production Company and the Chairman of the Board of Directors of Sinoma (CDI), as the two companies wish to establish an iron production complex in SCZONE.

Mr. Waleid Gamal El-Dien confirmed that SCZONE is working on studying the offer submitted by the company with an area of 750,000 square meters at an investment cost of $300 million, to obtain approvals for the project from the concerned authorities. This project represents a partnership between the private sector represented by “Shen Feng” and the Chinese government represented by CDI Sinoma. The project will be implemented in two phases, starting with the first phase directly to meet the demands of the company’s products to the local market. It was agreed that the two companies would visit SCZONE soon, and the project would be supplied, with the latest equipment used in this field to produce the best types of products with high quality.

Mr. Waleid Gamal El-Dien also met with Mr. Baotian Wang, Assistant Vice President of Sany Heavy Industries and Construction Equipment. The meeting discussed the green hydrogen projects being attracted, the size of their electrolyzer needs, and the possibility of the company manufacturing them within SCZONE to meet the needs of those projects.

It is worth noting that Sany has been present in Egypt since 2007 and there is a partnership since 2012 with El Sewedy Electric in Egypt, where the company participates in green energy projects through electrolyzers, solar energy, and wind turbine projects.