Prime Minister Mostafa Madbouly observed the signing of a pivotal agreement between the SCZONE and Saint-Gobain Egypt Glass Alliance. This agreement, signed by SCZONE’s Vice President Mohamed Abdel Gawad and Saint-Gobain Egypt Group’s CEO Ahmed Wafik, sets the stage for a 200,000 square meter glass factory in Ain Sokhna. The project, involving French partners, aims to inject over €160m in foreign investments within five years, targeting over 50% exports and creating substantial local employment.
This factory marks Saint-Gobain’s third venture, following a glass production facility and a mirror factory, spanning 190,000 and 10,000 square meters, respectively.
A contract granting XINXING a 270,000 square meter land plot in the TEDA zone was also signed, witnessed by SCZONE Chairperson Walid Gamal El-Din. TEDA-Egypt’s Managing Director Zhang Yixiang and XINXING’s General Manager Ma Yi formalized the agreement, aiming to launch a $146m ductile iron pipes project with an impressive annual capacity of 250,000 tonnes.
Walid Gamal El-Din highlighted XINXING’s commitment to Egyptian investment, with the SCZONE allocating a substantial land area for the company’s expansive industrial plans. Sawkhoi emphasized the land’s versatility for diverse industrial and logistical uses.
The XINXING project’s General Manager in Egypt elaborated on the company’s strategy to foster industrial growth, including the production and distribution of various ductile iron pipes and related machinery, alongside a focus on technological development and services.
