The industrial complex, which will consist of nine factories, will be located in the integrated Sokhna area within the Suez Canal Economic Zone (SCZone).
The complex, spanning an area of 3.75 million square metres, is expected to provide around 8,000 direct job opportunities and will be developed in two phases over five years.
The first phase will include four factories: a brake disc components factory for automobiles, a household appliance components factory, a standard fasteners (bolts and nuts) factory, and a hot-rolled steel coils factory.
The second phase will feature five factories: an aluminium and magnesium alloy car components factory, a steel structure equipment factory, a brake drum components factory for automobiles, a construction machinery components factory, and a cold-rolled steel coils factory.
El-Wazir confirmed that the ministry will fully support the project, including expediting the industrial licensing process and other necessary procedures.
He also emphasized the importance of reducing the time needed for project establishment, equipment supply, installation, and the commencement of industrial operations and production in Egypt.
Additionally, he presented to Shen Feng's chairman the timeline to be followed after signing the final contract.
Moreover, El-Wazir stated that Egypt is open to foreign companies investing in new projects and establishing large factories to localize various industries. This aligns with President Abdel-Fattah El-Sisi's vision of transforming Egypt into a regional industrial hub.
He also highlighted Egypt’s commitment to strengthening cooperation with both international and local private sectors.
The minister emphasized that the Egyptian market is promising and offers a strong entry point for investors targeting the Middle East and Africa.
Meanwhile, SCZone chairman Walid Gamal El-Din explained that SCZone's strategic vision focuses on localizing industry and advanced manufacturing technologies in targeted sectors.
With support from various state institutions, the economic zone aims to make significant progress in the localization of industry, which plays a vital role in creating job opportunities for young Egyptians and supporting Egypt’s Vision 2030, Gamal El-Din stressed.
He also highlighted the importance of Shen Feng’s integrated project, whose products support many industries targeted for localization within the authority, including the automotive, transportation, electrical appliances, and other sectors.
This, he clarified, will help enhance local content in various industries and boost exports.
Shen Feng Tools Co. ventured into the repair tool industry and developed the world’s first self-contained hydraulic puller in 1990, revolutionizing the maintenance industry.
Since then, the company has earned global patents and received gold and silver medals at the 2002 Geneva International Exhibition of Inventions.
Today, it offers OEM and ODM hydraulic maintenance tools under the OMARSTAR brand, providing customers with innovative, safe, and smart solutions.
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