Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone (SCZone) with CNG officials during the of the ceremony for the CNG Egypt New Energy Glass project.
The project, valued at $300 million, spans 500,000 square metres and is expected to create 1,000 job opportunities.
It will feature two production lines: one for flat glass with a daily capacity of 1,000 tons and another for photovoltaic glass with a daily output of 800 tons.
Gamal El-Din reaffirmed SCZone's commitment to supporting Teda Egypt in attracting additional Chinese companies, which now number nearly 200.
Li DaiXin, chairman of TEDA Egypt and TEDA China-Africa, highlighted SCZone's ongoing support for the TEDA Egypt area and its companies.
He also noted that 2024 marks the 10th anniversary of the strategic partnership between the two entities. Currently, 19 companies operate in the Sokhna industrial zone, with the New Energy Glass project being the largest in area and investment scale.
SCZone has signed agreements worth $15.6 billion with Chinese partners for 11 manufacturing and green hydrogen projects, covering an area of 4.9 million square metres in 2023.
In September, SCZone signed nine agreements for six projects with Chinese investors valued at more than $1.067 billion.
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