SCZONE signed an agreement for establishing a green energy industrial park

Mr. Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), Mr. Mohamed El-Demerdash, Managing Director of Engazaat, and Mr. Jeff Cai, General Manager of CHINT Global, signed a strategic cooperation agreement, on the sidelines of SCZONE’s participation in the COP28 inside its pavilion in the Green Zone. The agreement aims to develop, establish, and operate an integrated industrial park for green energy technology spanning 2 million square meters within SCZONE. The framework agreement will be signed alongside the completion of technical and financial feasibility studies in 2024.

“The establishment of a modern industrial park for clean technology coping with SCZONE efforts towards fulfilling the green economy strategy consisting with Egypt’s vision in the energy fields. We emphasize the importance of such kind of projects in advancing another step closer to the most important industrial sectors, which are targeted by SCZONE.” Mr. Waleid Gamal El-Dien SCZONE Chairman explained

Mr. Waleid Gamal El-Dien also witnessed several agreements, the first of which was an agreement for the electricity supply generated from solar energy sources with a capacity of 7 MW for Jushi. Under the agreement, Jushi will assign its solar photovoltaic plant project to a consortium of Engazaat and CHINT Global.

Afterward, the Chairman of SCZONE witnessed a contract signing ceremony for the allocation of industrial land between El Sewedy Industrial Development Company and the Chinese company Jushi. As per this cooperation, Jushi will invest about $ 8 million, benefiting from the incentives provided by SCZONE to establish an industrial complex as an extension of its existing factory for sustainable fiberglass products on an area of 60,000 square meters within the “Industrial Sokhna” project. The contract was signed by Eng. Mohamed El Kammah, CEO of El Sewedy Industrial Development Company, and Mr. Ma Xinyao, Jushi Egypt VP. It is noteworthy that Jushi owns a “Fiberglass” facility in Sokhna consisting of 4 production lines, with investments of $ 920 million, and a production capacity of 350 thousand tons per year.

Mr. Waleid Gamal El-Dien also witnessed the signing ceremony between El Sewedy Industrial Development Company, a subsidiary of Elsewedy Electric, and Futurefert, owned by the Emirati Sharqia Holding Limited, to allocate an industrial plot of land with an area of 127,000 square meters within the “Sokhna 360” project to establish a factory for sustainable agricultural enhancements, with investments of about $ 50 million for the first and second phases, with a capacity of 300,000 tons for the first phase.