Ahmed Kilany’s Post

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Sales Manager at Solvochem Group, MBA in progress

China may be gearing up for increased investment in Egypt's industrial sector as Befar Group, a China-based chemicals manufacturer, is considering the construction of a USD 2 billion industrial complex in East Port Said. A letter of intent was signed with the Suez Canal Economic Zone (SCZone) last week, as stated in an official SCZone announcement. The project's initial phase, estimated at USD 500 million, will rely on solar and wind energy for power and is projected to generate around 1,000 jobs. However, the manufacturing capacity of the project has not been disclosed by the SCZone. This move is part of a broader trend of collaboration between the SCZone and China. In October, during China's Belt and Road Forum, the SCZone entered into agreements with Chinese companies, totaling USD 14.75 billion, focusing on green manufacturing and green energy investments. These agreements encompass various initiatives, such as a new green hydrogen plant, a potassium chloride facility, as well as the establishment of glass, bromine, and iron pipe factories. #Egypt #China #Economy

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