A framework agreement was signed on 27 March between the General Authority for the Suez Canal Economic Zone (SCZone) and Saint-Gobain Egypt. According to the agreement, a glass factory will be built in the SCZone industrial zone in Ain Sokhna.
Prime Minister Mostafa Madbouly and Walid Gamal Eldien, Chairman of the General Authority of the Suez Canal Economic Zone attended the signing ceremony. The agreement was signed by Mohamed Abdel-Gawad, Vice President of the General Authority of the Suez Canal Economic Zone; and Ahmed Wafik, CEO of Saint-Gobain Egypt.
The foundation stone of the new factory had been laid on 20 March. At an investment of 175 million Euros, the plant will be built over an area of 200,000 sq.m in the industrial zone in Ain Sokhna.
A solar power station was also inaugurated with the purpose of supplying the energy needed for the project. The station generates 10 megawatts, and looks to reduce some 6000 tons of carbon emissions.
Saint-Gobain Glass is a world leading glass production company; it ranks number one in Europe and number two worldwide in the production of glass. Saint-Gobain is present in 75 countries, with sustained development in emerging countries. The French company has been operating in Egypt since 2006.
The laying of the foundation stone event was witnessed by French Ambassador to Cairo Eric Chevallier; Saint-Gobain CEO for Eastern Mediterranean and Middle East countries Hady Nassif; SCZONE Chairman, Waleid Gamal Eldien; as well as other senior officials.
Mr Chevalier expressed his happiness at seeing the huge development in the SCZone, and that France is partnering in this development. He said he was proud of the work they jointly do to reduce carbon emissions, citing the solar plant built for the glass factory project as an excellent effort. Egypt, he stressed, is important for French investors, given that it is a crossing point into the Arab World and Africa. More joint Egyptian French work, he said, should be done towards experience and technology exchange.
For his part, Mr Gamal Eldien lauded the partnership between Saint-Gobain and SCZONE. Saint-Gobain already has a 190,000 sq.m glass factory, and a 10,000 sq.m mirror factory, both in Sokhna Integrated Industrial Zone.
He pointed to the continuous cooperation between SCZONE and French investors, naming green fuel and logistics as two of the ongoing fields of cooperation.
Regarding the new glass factory, Mr Gamal Eldien said that it should contribute to the feeding industries for local automobile production which the State has been keenly endorsing. The new factory, he said, is planning on exporting 60 per cent of its production.
Mr Nassif said the new factory achieves Sant-Gobain’s goal of manufacturing innovative, sustainable building materials. The aim, he said, was to contribute towards reaching net zero carbon emissions by 2050. This, he stressed, is especially important in Egypt as it moves towards greater industrial production to spur development and create jobs.
Watani International
8 April 2024
Your content is consistently top-notch.