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Our industrial zones are a big hit with foreign investors: Egypt signed three separate industrial investment agreements with companies from China, Poland, and France collectively worth USD 353 mn for projects to be implemented in the country’s industrial zones.
The agreements include:
#1- A USD 146 mn ductile iron pipes factory: China’s state-owned Xinxing Ductile Iron Pipes Company also signed an agreement with the SCZone that will grant the Chinese company the right to use a 270k sqm plot of land in the TEDA industrial park to set up a USD 146 mn ductile iron pipe factory, according to a cabinet statement. The project aims to manufacture 250k tonnes of cast iron pipes per year with an annual production value of USD 1.2 bn.
ICYMI: We first heard about the project in October during the Belt and Road Forum that saw the SCZone rake in at least USD 15.5 bn worth of investment agreements in just a few days from Chinese investors.
#2- Another USD 174 mn glass factory from Saint-Gobain: The Suez Canal Economic Zone also signed an agreement with French glass and building materials manufacturer Saint-Gobain Glass Egypt to further cooperation on an already under-construction EUR 160 mn (USD 174 mn) glass factory in the Sokhna Industrial Zone, according to a separate cabinet statement. A statement from the SCZone about the project last week put the cost of the project at EUR 175 mn (USD 189 mn).
Saint-Gobain is no stranger to Egypt’s construction materials industry: The company’s flat glass production line in the SCZone is the largest in the Middle East. It also owns two building materials factories in Sadat and Amreya worth more than EUR 150 mn.
#3- A new USD 33 mn grain silo factory: East Port Said Development and the Egyptian arm of Polish grain silo company Feerum signed an agreement to allocate land for an EGP 1.6 bn (USD 33 mn) factory to design, manufacture, and establish grain silos and their components in the East Port Said Industrial Zone, according to a cabinet statement. The project will be developed in cooperation with Egyptian construction and engineering firm Samcrete and the state-owned Egyptian Holding Company for Silos and Storage.
Remember: For years, the state has been working to boost its wheat storage capacity, building more silos and taking out loans to invest in silo development, all with the aim of ensuring none of our local harvest goes to waste due to lack of sufficient silo capacity and increasing wheat reserves. The Supply Ministry has a plan to increase the country’s silo capacity to 5.3 mn tons from its current 2.1 mn tons and cut down on the percentage of wheat that is wasted in the harvest and storage process.
