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Another Chinese factory has joined the list of solar component manufacturers working to set up shop in Egypt, with Sunrev Solar inking a contract with the China-Egypt TEDA trade zone to build a USD 200 mn integrated industrial complex for solar energy components, according to a cabinet statement. The project is expected to create over 1.8k direct jobs and generate up to USD 300 mn in annual exports, targeting regional and global markets.
The project’s first USD 90 mn phase is slated to begin operations in 1H 2026, which will include two factories with a combined production capacity of 2 GW of solar cells and 2 GW of solar modules. In the second USD 110 mn phase, the complex will localize the production of key raw materials, including silicon ingots and wafers, to work towards a fully integrated solar supply chain.
Sunrev Solar isn’t alone when it comes to Chinese companies interested in our solar manufacturing potential, with Elite Solar laying the foundation stone for its USD 150 mn solar cell factory in December 2024, which is slated for completion by September. We also heard in March that SBH Kibing Solar New Energy is also looking to set up a USD 700 mn solar panel glass manufacturing facility.
REMEMBER- The complex aligns with Egypt’s broader strategy to localize 12 strategic industrial components, which includes solar cells, alongside electric motors, control panels, and elevators and others. The strategy aims to not only reduce the country’s import bill — and resultant strain on FX resources — but to also set export these components.
IN OTHER INVESTMENT NEWS-
#1- Two new Turkish textile factories are heading to the Qantara West Industrial Zone, bringing a combined USD 38 mn in fresh investment, according to statements from the Suez Canal Economic Zone. Plastics and industrial textiles company UR-SA i nked a contract to build a USD 20 mn factory, which will create 1.0k direct jobs and export 80% of its output. While yarn and threads producers signed a contract for a USD 18 mn self-financed factory that will create 855 direct jobs and likewise export 80% of its output.
#2- American outsourcing player VXI wants to up its investment in the local market to USD 135 mn by 2028, according to a statement from the CIT Ministry. The California-headquartered company, which began operating in Egypt in March 2024, wants to grow its workforce from 1k to 5k by the end of 2028.
