Latest news with #TEDAEgypt
Zawya
a day ago
- Business
- Zawya
Egypt: SCZone lays foundation stone of $200mln solar energy complex in Ain Sokhna
Arab Finance: The General Authority for the Suez Canal Economic Zone (SCZONE) announced the laying of the foundation stone for a $200 million integrated industrial complex for the production of solar energy components in the Ain Sokhna industrial zone, as per a statement. The project is being developed by Chinese firm Sunrev Solar in cooperation with TEDA Egypt, the industrial developer of the zone. Spanning 200,000 square meters, the project will be implemented in two phases. The first phase, valued at $90 million, includes the construction of two factories for producing solar cells and solar modules, each with a capacity of 2 gigawatts. The second phase will add $110 million in investments and focus on localizing the production of essential raw materials, including silicon ingots and wafers, in addition to modules and cells, creating an integrated value chain within Egypt's solar energy sector. The complex is scheduled to begin operations in the first half (H1) of 2026. According to SCZONE, the project is expected to generate over 1,800 direct jobs across both phases, along with thousands of indirect employment opportunities. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Egypt Today
27-02-2025
- Business
- Egypt Today
Egypt opens $100M Egypt Kadi project in SCZone
Prime Minister Mostafa Madbouly officially inaugurated the Egypt Kadi Textile Factory, a significant addition to Egypt's growing industrial sector, during his inspection tour of the Ain Sokhna Integrated Industrial Zone. This new facility is part of the TEDA Egypt Industrial Zone, a key investment hub within the Suez Canal Economic Zone (SCZone). Walid Gamal El-Din, Chairman of SCZone, emphasized that the Egypt Kadi project is a $100 million investment and is set to generate 4,500 direct and indirect job opportunities, reinforcing the government's efforts to attract foreign investments and boost local employment. During the visit, Cao Hui, Managing Director of TEDA Egypt, provided an overview of the industrial zone's development. He highlighted that the first phase of TEDA Egypt's expansion, covering 1.34 square kilometers, has been fully completed with $152 million in investments. Meanwhile, the second expansion phase is currently underway on 6 square kilometers, with a total investment of $230 million. Additionally, discussions are ongoing with the Egyptian government for an extra 2.8 square kilometers to accommodate more factories and further expand industrial operations. Spanning 250,000 square meters, the Egypt Kadi Textile Factory stands as a major player in Egypt's textile industry. Constructed in just one year—from October 2023 to October 2024—the factory started trial operations in January 2025 and boasts an annual production capacity of 10,000 tons of fabric. In its first phase, the factory is projected to achieve $35 million in annual sales, with plans to launch the second phase in March 2025. Full-scale operations for this expansion are expected to commence in December 2025, further increasing the factory's production output and market reach. Beyond production, Egypt Kadi has made significant investments in technological innovation. The company has established scientific research laboratories dedicated to advancing textile manufacturing technologies, enhancing product quality, and maintaining its competitive edge in both local and international markets. The inauguration of the Egypt Kadi Textile Factory marks a milestone in Egypt's industrial expansion, aligning with the country's broader vision to strengthen its manufacturing sector, attract foreign investment, and create sustainable job opportunities.
