The cooperation aims to establish three giant industrial projects within the Sokhna Industrial Zone, which is affiliated with the SCZone.
The planned projects resulting from this collaboration
include:
A seamless steel pipes factory with a production capacity of
up to 250,000 tonnes annually, aimed at meeting the needs of Egypt's mega
infrastructure and urban development projects and reducing import costs.
A vehicle tire factory of various types, with a production
capacity ranging from 12 to 15 million tires annually. As a feeder industry for
the automotive sector, this factory is intended to significantly meet the local
market's needs for this strategic product.
A fiber optic cable factory, designed to enhance the
infrastructure of the communications and information technology sector,
enabling digital transformation and promoting high-speed, efficient network
connectivity.
On the sidelines of the signing ceremony, the SCZone Chairman stated that this cooperation between the two major entities represents a boost to investments within the Authority and supports the SCZone's strategic plans for localizing industry, transferring advanced manufacturing technologies, deepening the local component, and supporting Egyptian exports abroad. He added that the projects will also provide job opportunities for Egyptian youth, in line with the state’s vision for comprehensive economic, social, and environmental development.