SCZone, Chinese Companies Ink $687 Million Deals in Energy, Textiles, Petrochemicals, and Bromine

Waleid Gamal El-Dien, chairman of the Suez Canal Economic Zone (SCZone), witnessed the signing of agreements and contracts for new projects to be established in the Sokhna Industrial Zone within the scope of the industrial developer TEDA-Egypt. 

TEDA signed an agreement with HIDIER Group, a large-scale comprehensive company specializing in Investing in international energy projects, construction, operation, and integration for the manufacture, supply, and marketing of modern materials needed for production. 

The first project is to establish a power supply station with investments of about $265 million. The value of the first phase of building a substation with a capacity of 200 megawatts / 220 kV is about $38 million. A second agreement was signed for the same company for a project to produce modern materials with a capacity of 200,000 tons of advanced carburetors using coke as a raw material. The total investment in this project is about $100 million, and the annual production capacity for the first phase is 50,000 tons, an investment of about $30 million.

SCZONE’s chairman also witnessed the signing of a contract between TEDA-Egypt and a subsidiary of the Golden Spring Group to establish a project for the textile industry on an area of 66,000 square meters with investments of approximately $12 million.

In the same context, an agreement was signed between the industrial developer TEDA-Egypt and Shandong Tianyi Company, a company operating in the field of petrochemicals and bromine production, to establish a project on an area of 270,000 square kilometers with investments of $110 million, with a production capacity of 140,000 tons of bromine, with an expected return of $600 million. 

The company is also setting up another project for the production of caustic soda at an investment cost of $200 million on an area of 300,000 square meters, to produce 500,000 tons of raw salt, 300,000 tons of soda ash, 270,000 tons of chlorine, and 7.5 thousand tons of hydrogen. annually, with annual revenues of $160 million.

TEDA-Egypt also signed an agreement with the Chint Global Center to provide services and training in the field of energy projects, as well as an agreement with the Zhejiang Center for Commercial and Economic Services to support cooperation in the fields of training between the industrial developer TEDA-Egypt and its companies in the industrial and commercial investment sectors.