An agreement for a project worth USD 15 million has been signed between the General Authority of the Suez Canal Economic Zone (SCZONE) and the Chinese WINPEX industrial firm.
Waleid Gamal El-Dien, Chairman of SCZONE, witnessed the signing ceremony for the project contract. The contract was signed by Major General Walid Youssef, Managing Director of MDC, and Malan Tang, Chairman of WINPEX, in the presence of executive leaders from SCZONE and both companies.
Specialised in manufacturing lighting and electrical appliances, the project will be located in the Main Development Company (MDC) industrial developer area in the Sokhna Integrated Zone.
At a total investment of USD15 million, the project aims to establish a factory to produce solar lights, LED bulbs, electronic devices, and plastic tools. It will stretch on an area of 50,000 square metres, and will create 500 direct job opportunities. The production will be totally allocated for export.
Mr Gamal El-Dien said that SCZONE has firmly established itself as a prime global investment destination, driven by world-class infrastructure, integrated ports, skilled workforce, and access to competitive renewable energy.
SCZONE, he stressed, is dedicated to localising industries and transferring technology in alignment with Egypt Vision 2030, aiming to boost exports and attract Foreign Direct Investment (FDI).
