During the meeting, Gongshan affirmed to President El-Sisi that his group values Egypt's strategic geographic location and internal stability as attractive to investment. He also praised measures taken by the Egyptian government in recent years to encourage solar energy production and attract foreign investors.
Golden Concord Group (GCL), founded in 1990 by Zhu Gongshan, is a major Chinese, Hong Kong-registered energy conglomerate specializing in clean energy, PV (solar) materials, and, increasingly, smart energy and semiconductor materials. It is a leading global supplier of polysilicon and silicon wafers, ranking among the top 500 global new energy enterprises.
The meeting was attended by Prime Minister Mostafa Madbouly, Minister of Electricity and Renewable Energy Mahmoud Esmat, and Ahmed Elabd, Chairman of the Board of Directors of Concord for Engineering and Contracting.
Founded in 1989, Concord for Engineering and Contracting is a leading, privately owned Egyptian company, specializing in engineering, procurement, and construction services for large-scale projects in Egypt and the MENA region.
Egypt has been expanding its renewable energy sector to meet rising electricity demand and position itself as a regional hub for green energy.
In January, Egyptian industrial manufacturer Kemet ndustries signed a cooperation agreement with Suzhou GCL Photovoltaic Technology, a subsidiary of GCL, to establish a $500 million industrial complex producing solar cells and photovoltaic modules in Egypt.
The project will use the firm’s technology to increase local production and build capacity. It will cover an area of 280,000 square metres and have a production capacity of five gigawatts.
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