The factory will be established within the integrated Sokhna zone, under the industrial developer, Main Development Company (MDC).
The project involves establishing a factory for
manufacturing solar-powered lamps, LED lighting, electronic devices and
appliances, and plastic tools.
The total investment for the project is valued at $15
million, covering an area of 50,000 square meters. It is expected to create 500
direct jobs and aims to export its entire output abroad.
The contract was signed by Major General Walid Youssef,
Managing Director of MDC, and Malan Tang, President of WINPEX, in the presence
of executive leaders from SCZONE and both companies.
On the sidelines of the signing, Gamal El-Din stated that
SCZONE has become a prime investment destination due to its advanced
infrastructure and utilities and the integration between its industrial zones
and ports. He also cited the availability of trained technical labor and
competitively priced renewable energy sources.
He highlighted the Zone's unparalleled access to global
markets through its uniquely located ports on the Mediterranean and Red Seas,
which are further supported by various free trade agreements. This, he noted,
positions SCZONE as a vital link between world continents and a pivotal hub for
global supply chains.
The SCZONE Chairman stressed the importance of the
Authority's efforts to localize industry and transfer technology to support the
national economy, aligning with Egypt’s Vision 2030 and its national economic
development strategy. This strategy is centered on attracting Foreign Direct
Investment (FDI) and boosting Egyptian exports.
Gamal El-Din also pointed to the effective role of industrial developers, noting that the growing volume of Chinese investments within SCZONE reflects the depth of the strategic partnership and close relations between Egypt and China.