Latest news with #industrialcomplex
Bloomberg
11 hours ago
- Business
- Bloomberg
SoftBank's Son Pitches $1 Trillion US AI Hub
Bloomberg's Caroline Hyde discusses SoftBank founder Masayoshi Son's pitch to build a trillion-dollar AI industrial complex with TSMC in Arizona. Plus, the global robotaxi market heats up as Baidu looks to expand internationally and Tesla prepares to launch its service in Austin. And Meta rolls out new smart-glasses in a partnership with Oakley. (Source: Bloomberg)
Bloomberg
11 hours ago
- Business
- Bloomberg
Stocks Rattled Ahead of Big Options Test
Get a jump start on the US trading day with Matt Miller, Katie Greifeld and Sonali Basak on "Bloomberg Open Interest." SoftBank founder Masayoshi Son is seeking to team up with TSMC on a trillion-dollar industrial complex in Arizona to build robots and AI. President Trump signals he would give diplomacy a chance before deciding whether to strike Iran. And Bezel Co-Founder & CEO Quaid Walker joins Bloomberg Open Interest to talk about the luxury watch market. (Source: Bloomberg)
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. (
Zawya
2 days ago
- Business
- Zawya
China's Sunrev to invest $200mln in solar component industrial complex in Egypt's Sokhna
Egypt - Prime Minister Mostafa Madbouly witnessed on Wednesday the signing of a contract to establish an integrated industrial complex for the production of solar energy components in Ain Sokhna's industrial zone, part of the Suez Canal Economic Zone (SCZONE). The project will be developed by Chinese firm Sunrev Solar. The contract was signed by Cao Hui, Managing Director of TEDA, and Qi Fei, Managing Director of Sunrev Solar, in the presence of Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel Al-Wazir, and Chairperson of SCZONE Walid Gamal El-Din. The project will involve the construction of two integrated factories in its first phase: one for producing solar cells and another for solar modules, each with a capacity of 2 gigawatts. The second phase will focus on localising the production of key raw materials—such as silicon ingots and wafers—completing the full solar component value chain. Prime Minister Madbouly highlighted the strategic advantages of SCZONE in attracting diverse investments, especially in renewable energy. He reiterated the government's commitment to localising new and renewable energy technologies and providing incentives to support their growth. SCZONE Chairperson Walid Gamal El-Din described the project as one of the zone's largest industrial investments in renewable energy components. Spanning 200,000 square metres, the project will see a total investment of $200m—$90m for the first phase and $110m for the second. It is expected to create over 1,800 direct jobs across both phases and generate annual export revenues of up to $300 million. The foundation stone will be laid on Thursday, with the first phase scheduled to begin operations in the first half of 2026. Gamal El-Din emphasised that the project reflects the confidence of major international investors in SCZONE's business climate and supports the authority's broader strategy to localise advanced industries and integrate solar energy production chains—from raw materials to finished products. He reaffirmed SCZONE's commitment to providing all necessary support to ensure the project's timely execution. Sunrev Solar is one of the world's leading manufacturers of solar energy components. This investment aligns with Egypt's national strategy to transition to a green economy, promote clean energy industries, and advance the goals of Egypt's Vision 2030 and Sustainable Development Strategy.
Zawya
3 days ago
- Business
- Zawya
Egypt pens $200mln deal with China's Sunrev Solar to build solar energy complex in Sokhna
Prime Minister Mostafa Madbouly witnessed the signing of a contract for the establishment of an integrated industrial complex for solar energy supplies in the Ain Sokhna industrial zone, within the Suez Canal Economic Zone (SCZone), as per a statement. The project will be developed by Chinese company Sunrev Solar with total investments of $200 million, and is among the largest industrial investments in renewable energy components within the zone. Spanning 200,000 square meters, the project will be executed in two phases. The first phase involves the construction of integrated factories with a production capacity of 2 gigawatts of solar cells and 2 gigawatts of solar modules, with investments of $90 million. The second phase, valued at $110 million, will focus on localizing the production of key raw materials such as silicon ingots and wafers, completing the full solar energy supply chain from raw material to finished product. Madbouly emphasized the strategic importance of the SCZone in attracting investments across various sectors, particularly in renewable energy. He noted ongoing efforts to localize manufacturing of new and renewable energy components, backed by strong government support and incentives. Chairman of the SCZone Waleid Gamal El-Dien stated that the project is expected to generate more than 1,800 direct jobs across both phases. It will contribute significantly to Egypt's export capacity, with anticipated annual revenues of up to $300 million. He added that the foundation stone will be laid on June 19th, with the first phase scheduled to begin operations in the first half (H1) of 2026. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
