SCZone Lays Foundation Stone for a Chinese Steel Pipe Factory with Investments of $146 Mln

The General Authority of the Suez Canal Economic Zone (SCZone) said in a statement, Tuesday, that the foundation stone was laid for the factory of the Chinese company Shen Sheng for manufacturing cast iron castings, with investments amounting to $146 million. 

KAccording to the statement, the factory, which is located on an area of ​​270,000 square meters, aims to produce high-pressure flexible cast pipes (from 100 mm to 1,000 mm), with an annual production capacity of 240,000 tons. 

The construction of the factory, which will provide 714 direct job opportunities, is scheduled to be completed during the first quarter of 2025, according to the Arab World News Agency.

Also, a contract to transfer the usufruct of the project area, which is located within the TEDA Industrial Zone, was signed in favor of the Shen Sheng Ductile Pipe Manufacturing Company last March.