Egypt, Chinese Shen Feng discuss establishing $1.6 bln industrial complex in Egypt

The industrial complex, which will consist of nine factories, will be located in the integrated Sokhna area within the Suez Canal Economic Zone (SCZone).

The complex, spanning an area of 3.75 million square metres, is expected to provide around 8,000 direct job opportunities and will be developed in two phases over five years.

The first phase will include four factories: a brake disc components factory for automobiles, a household appliance components factory, a standard fasteners (bolts and nuts) factory, and a hot-rolled steel coils factory.

The second phase will feature five factories: an aluminium and magnesium alloy car components factory, a steel structure equipment factory, a brake drum components factory for automobiles, a construction machinery components factory, and a cold-rolled steel coils factory.

El-Wazir confirmed that the ministry will fully support the project, including expediting the industrial licensing process and other necessary procedures.

He also emphasized the importance of reducing the time needed for project establishment, equipment supply, installation, and the commencement of industrial operations and production in Egypt.

Additionally, he presented to Shen Feng's chairman the timeline to be followed after signing the final contract.