This came in the presence of Major General Tariq El Shazly, Governor of Suez, Zhao Liuqing, Minister Plenipotentiary for Trade at the Chinese Embassy in Egypt, Wei Jinqin, General Manager of TEDA, a number of the Authority’s executive leadership, a number of leaders of the industrial developer TEDA-Egypt, and representatives of the two project companies.
Gamal El-Din witnessed the foundation stone laying
ceremony for Kaks Investment Company, which aims to establish a support zone
for the home appliance supply chain. This zone includes component
manufacturing, customs warehousing services, spare parts distribution,
assembly, and centers for sheet metal processing, injection, and foam
production. This will enhance the local manufacturing of home appliance
components in Egypt. The zone will be located on an area of 40,000 square
meters in the Suez Canal Economic Zone, with a total investment of $50 million.
The project also provides approximately 300 direct job opportunities, with
production scheduled to begin in the second half of 2026. It is one of the
projects the Authority seeks to localize as part of its targeted sectors plan.
He also witnessed the foundation stone laying ceremony
for the Dahui Glucose & Tiba Starch project, which aims to establish a
factory for the production of modified starch and vegetable protein. The
project will be located on an area of 41,000 square meters in the Sokhna
Industrial Zone, part of the Suez Canal Economic Zone. The project will be
implemented in two phases, with a total investment of $8 million for the first
phase. The project aims to fill the demand gap for modified starch in Egypt,
the Middle East, and East Africa, with an annual production capacity of up to
30,000 tons, in addition to producing vegetable protein with a production
capacity of 3,000 to 5,000 tons annually. The project will also provide 150
direct job opportunities, with production scheduled to commence in the second
half of 2026.
Walid Gamal El-Din clarified that these two projects
represent a new link in the chain of constructive cooperation between the Suez
Canal Economic Zone and Chinese investments. He also emphasized that the Suez
Canal Economic Zone is witnessing significant activity in terms of the number
of factories being established, as a result of continuous promotional efforts
over the past three years. He noted that they work seriously with successful
industrial developers to create an attractive investment environment and
develop the industrial sector in Egypt.
It is worth noting that the "Kaks" and "Dahui Glucose and Taiba Starch" projects, their contracts were signed during the promotional tour of the Chairman of the General Authority for the Economic Zone on the sidelines of the China-Africa Cooperation Forum.