The SCZOne is studying the offer of a $300 million investment that will secure 1,200 job opportunities with an area of 750,000 square meters.
Walid Gamal El Din, Chairman of the General Authority for Suez Canal Economic Zone (SCZone), had bilateral meetings with the Chairman of the Shen Feng Iron Production Company and the Chairman of the Board of Directors of Sinoma (CDI), to establish an iron production complex in the SCZone.
The SCZOne is studying the offer of a $300 million investment that will secure 1,200 job opportunities with an area of 750,000 square meters.
The meeting falls within the framework of proceeding with the SCZone team's promotion campaign in China, according to a statement by the SCZone.
The project will represent a partnership with the private sector and will be implemented in two stages.
Earlier this week, SCZone revealed that it evolved a previously signed Memorandum of Understanding (MoU) into a comprehensive collaboration framework between the Economic Zone and several Egyptian entities with China Energy to establish a new Green Hydrogen industrial complex within the Integrated Sokhna area of the economic zone.
This MoU comes in line with the zone’s strategic efforts to encourage green hydrogen projects and foster partnerships in the renewable energy sector and aligns with Egypt's commitment to renewable energy and the transition towards a greener economy.
