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SCZone Signs $85 Million Deal with China's Jiangsu Zhengyong for PVC Flooring Plant

Taarek Refaat The General Authority for the Suez Canal Economic Zone (SCZONE) signed an agreement with China's Jiangsu Zhengyong Flooring Decoration Material Co. to establish a new PVC flooring and wall panel manufacturing facility in Ain Sokhna, with an investment value of $85 million (approximately EGP 4.1 billion). The contract was signed today at SCZONE's headquarters in the New Administrative Capital, in the presence of Chairman Waleid Gamal El-Dien. The project will cover an area of 181,000 square meters within the Sokhna Industrial Zone and is expected to produce 27 million square meters annually, 90% for export to global markets and 10% for local sales. The factory is set to create around 500 direct jobs. Ahmed Gamal, Vice Chairman for the Southern Zone, signed the agreement on behalf of SCZONE, while Lou Xinfeng, a shareholder and authorized representative, signed for the Chinese company. Gamal El-Din emphasized that the Sokhna Industrial Zone offers new horizons for high-value-added manufacturing industries and supports Egypt's industrial exports. He noted that the project reflects the success of SCZONE's investment promotion efforts in attracting foreign direct investment into diversified industrial sectors. He added that Jiangsu Zhengyong is one of the world's leading flooring manufacturers, and its decision to set up operations in the SCZONE grants it competitive advantages, thanks to the zone's strategic location and advanced infrastructure. The investment also aligns with SCZONE's strategy to localize industries, deepen domestic manufacturing, and strengthen Egypt's role in global supply chains amid growing international demand for premium flooring products. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 Videos & Features Story behind Trending Jessica Radcliffe Death Video News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News The Jessica Radcliffe Orca Attack? 100% Fake and AI-Generated