Mr. Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), joined forces with Mr. Mohamed El-Demerdash, Managing Director of Engazaat, and Mr. Jeff Cai, General Manager of CHINT Global, to sign a strategic cooperation agreement. The signing took place within SCZONE’s pavilion in the Green Zone. It marked a pivotal step towards the creation of an expansive 2 million square meter industrial park for green energy technology within SCZONE.
This collaboration, aiming to develop, establish, and operate the integrated industrial park, aligns with SCZONE’s commitment to advancing a green economy strategy in harmony with Egypt’s vision in the energy sector. The agreement is poised to propel SCZONE closer to its goals in vital industrial sectors.
“The establishment of a modern industrial park for clean technology is in line with SCZONE’s efforts towards fulfilling the green economy strategy, consistent with Egypt’s vision in the energy fields. We emphasize the importance of such projects in advancing another step closer to the most important industrial sectors targeted by SCZONE,” highlighted Mr. Waleid Gamal El-Dien, SCZONE Chairman.
Additionally, Mr. El-Dien presided over several significant agreements, including a deal for the supply of 7 MW of electricity generated from solar sources with Jushi. Under this arrangement, Jushi will transfer its solar photovoltaic plant project to a consortium led by Engazaat and CHINT Global, fostering collaboration in the realm of sustainable energy.
Another key agreement witnessed by Mr El-Dien involved the allocation of industrial land between El Sewedy Industrial Development Company and the Chinese firm Jushi. Jushi, set to invest around $8 million, will leverage SCZONE incentives to establish a sustainable fiberglass products complex within the “Industrial Sokhna” project. This adds to Jushi’s existing fiberglass facility in Sokhna, boasting investments of $920 million and a production capacity of 350 thousand tons per year.
Lastly, Mr. Waleid Gamal El-Dien witnessed the signing ceremony between El Sewedy Industrial Development Company and Futurefert, owned by Emirati Sharqia Holding Limited. This agreement involves the allocation of industrial land for the establishment of a factory focused on sustainable agricultural enhancements, with investments totalling about $50 million for the initial phases and a production capacity of 300,000 tons.
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. The move aligns with SCZONE's commitment to a green economy, positioning it as a key player in vital industrial sectors. Additional agreements for solar energy supply and industrial land allocation signify a significant leap forward in sustainable development efforts.){kind=link}