Befar gets serious about Egypt: The Suez Canal Economic Zone (SCZone) inked a framework agreement with Chinese chemicals manufacturer Befar Group to set up an integrated chemicals production complex dubbed Green Marine in China’s special economic zone TEDA, according to a statement from the SCZone.

Investing big in phase one: Green Marine’s first phase will see a hefty investment of USD 250 mn to build a 300k sqm facility in TEDA. This phase aims to produce 100k tons of caustic soda, 50k tons of hydrochloric acid, 40k tons of bleaching agents and decolorizing products for textiles, and 10k tons of bromine and its derivatives annually. The complex is expected to generate annual revenues of USD 230 mn and create 795 jobs.

Expanding horizons in phases two, three: The second phase of Befar’s Green Marine will focus on broadening its production line to include chlorine, polyether, and polyurethane, aiming to meet domestic demand for chemicals used in the automotive and construction industries. This phase will also support the production of high-quality soda ash necessary for the glass industry. Phase three will leverage local resources to develop advanced technologies for producing new chemical compounds.

China loves the SCZone: Chinese investments make up 40% of the USD 6 bn invested in the SCZone in the last two years, SCZone head Walid Gamal El Din said last month. “There is a legitimate ambition to level up the number of Chinese companies in SCZone to reach 1k by 2030,” El Din added.

Tags: