Elsewedy kept busy at COP28, with its subsidiaries inking a number of agreements on the sidelines of the climate summit, handing out land plots across industrial complexes and agreeing to boost renewables in Indonesia.

#1- Fertilizer complex: UAE-based Sharkia Group fertilizers manufacturing arm Futurefert will set up a USD 50 mn fertilizer complex in Elsewedy’s Sokhna 360 industrial zone. Elsewedy Industrial Development and Futurefert inked the land allocation agreement yesterday, according to a statement (pdf) from the Suez Canal Economic Zone..

The details: During its first phase of operations, the complex will produce 300k tons of fertilizers a year.

ICYMI- Sokhna 360 is a 10-mn sqm industrial city in the Ain Sokhna industrial zone that offers residential and commercial units. It offers foreigners and international investors a slew of incentives, including full ownership, full control over exports and imports, and zero custom duties and sales tax.

#2- Jushi to expand glass factory: Chinese fiberglass manufacturer Jushi will invest USD 8 mn to expand its factory in China’s TEDA trade zone after it was awarded the necessary land plot of the expansion. Elsewedy Industrial Development awarded the glass manufacturer a 60k-sqm plot in its Industrial Sokhna project located in the TEDA zone, it said in a press release (pdf).

Expansion 2.0: Jushi earlier this year inaugurated a new USD 320 mn production line at its factory, pushing the factory’s production capacity to 350k tons a year. The company has so far invested USD 920 mn in its factory.

ALSO- Elsewedy will help Indonesia accelerate green transition:Elsewedy Electric Indonesia will help the Indonesian government link its new renewable energy generators with the national electricity grid, under an MoU inked with the country’s state electricity distributor PT PLN (Persero). Under the MoU, the two sides will work together to set up new renewable projects in the country, the company said in a press release (pdf).

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