Kemet Industries and Emirati-Chinese Al Qalaa Red Flag will invest USD 3.5 bn in three “giant industrial projects” in the Sokhna Industrial Zone under an MoU inked between the two, according to a Suez Canal Economic Zone (SCZone) statement. The timeline for the projects was not disclosed.

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The projects include a seamless steel pipe factory, which will have a targeted annual production capacity of 250k tons. Output will help supply the country’s wide-ranging infrastructure and urban development projects while reducing the country’s import bill, according to the statement.

The second factory will produce car tires and will roll out (excuse the pun) 12-15 mn units a year, which will help bolster the automotive feeder industry and help meet local needs.

The third factory will produce fiber optic cables, supporting the local infrastructure and communications sector, according to the statement. The factory will support the country’s digital transformation and move toward better and faster internet.

ALSO- Al Ahram Chemicals and Resins will invest USD 10 mn in an industrial complex to produce formaldehyde and its derivatives, according to another SCZone statement. The planned project in Sokhna Industrial Zone will create 150 jobs and have an annual production capacity of 25k tons of formaldehyde and 25k tons of urea-formaldehyde. Production will kick off in early 2027.

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