- February 17, 2025
- Posted by: Ahmed Abed
- Category: 2024, EN
Mr. Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), witnessed, this morning, the ground-breaking Ceremony for the electronics project for “FBB Tech” company, affiliated with “FBB Holding” in cooperation with the Chinese “Hisense” Electronics Group, in the Sokhna industrial zone, within the scope of the industrial developer (Teda-Egypt), with a total investment of $38 million, on an area of 110 thousand square meters, to produce one million units annually, providing 337 job opportunities. The ceremony was held in the presence of Mr. Cáo huì, the Managing Director of (TEDA – Egypt), Mr. Osama Fares, Chairman of FBB Company, and several executives of SCZONE.
*” The presence of the project within the Sokhna Industrial Zone offers an integrated infrastructure and an appropriate environment to achieve the highest production standards. It also grants easy access to various markets through the SCZONE ports. SCZONE provides a favorable environment for investment, noting that there are now 120 factories under construction within SCZONE simultaneously, an unprecedented rate that indicates investors’ confidence in SCZONE.” Mr. Waleid Gamal El-Dien, Chairman of SCZONE stated.*
*” The “FBB – Tech” project for electronics is a living example of Egypt’s commitment to achieving sustainable development and stimulating investment in vital sectors that contribute to strengthening the national economy, most notably the electrical appliances and electronics industry, as the project aims to produce one million units annually with 30% sales to the local market, and 70% for export to Europe and North and East Africa. The cooperation with Chinese investments reflects the ongoing keenness to increasing production capacities and expanding the export base to various world markets, in addition to the fact that the project represents an effective partnership between SCZONE, Emirati investments, and Chinese expertise.” Mr. Waleid Gamal El-Dien, Chairman of SCZONE added*
*” Laying the foundation stone for the “Hisense – FBB” project represents a new beginning for the development of the China-Egypt Economic Cooperation Zone. Because of the strong will and great support from the Egyptian and Chinese governments and the trust of the investors, (TEDA – Egypt) has been able to form a distinguished industrial cluster of about 180 companies with investments exceeding $3 billion, including the production of modern building materials, textiles, home appliances, solar energy, automotive, and chemical industries, making it a shining pearl and a prominent model for economic cooperation between China, Egypt, Arab and African countries.” Mr. Cáo huì, the Managing Director of (TEDA – Egypt) said*
*” We are pleased to build this new industrial edifice, and we thank the support that the project received during the past period. The importance of this project is based on the combination between Arab investments and the technology of the Chinese company “Hisense”, which was established in 1969 and is ranked among the top 10 companies in the world in the field of television and screen production.” Mr. Wael Amer, a Representative of FBB said.* It is worth noting that FBB Holding is a leading global trading company established in 2019, headquartered in Dubai, UAE, with a proven track record of success, and has a strong group of companies operating in various sectors in Belgium, Germany, Libya, Egypt, Cyprus, Jordan, Bahrain, and the UAE.
