A new manufacturing complex is being established in Egypt’s Suez Canal Economic Zone (SCZone). Chinese investor Xinfeng Egypt has signed a land-use rights agreement with the Egyptian government for an industrial complex covering 3.75 million square meters in the Ain Sokhna Integrated Zone..
With a total investment of $1.65 billion, the project will be completed in two phases over five years. The complex will include nine factories, a solid waste treatment facility, and an R&D and training center. It will manufacture automobile and transportation parts, as well as industrial standard and non-standard components. Xinfeng Egypt Chairman Tian Haikui stated that the project will create 8,000 direct jobs and enhance Egypt’s industrial competitiveness in line with the country’s “Vision 2030” goals.