More Chinese investment in the SCZone is in the cards: The Suez Canal Economic Zone (SCZone) has signed agreements with a number of Chinese companies that could see more than USD 700 mn invested in projects in China’s TEDA industrial zone in Ain Sokhna, the zone said over the weekend. The agreements were signed in Hangzhou city, the latest stop on the zone’s ongoing roadshow in China and Hong Kong. No details were given on the timeline to implement the projects.

#1- Hidier Power Group will build a USD 265 mn power plant in the SCZone. The company will spend USD 38 mn to build a 200MW substation in the initial phase of the project, the zone said in a statement Friday.

Hidier will also construct a USD 100 mn petcoke products factory. The first phase will cost some USD 30 mn and produce 50k tons of products annually.

#2- Shandong Tianyi will build a USD 110 mn bromine factory with a production capacity of 140k tons a year. The facility is expected to generate USD 600 mn in revenues per year and create 700 jobs. The company will also launch a USD 200 mn sodium hydroxide project, producing raw salt, sodium bicarbonate, chlorine, and hydrogen that wasn’t included in the SCZone’s overall tally of fresh investments. That project is expected to generate annual turnover of USD 160 mn and create 420 jobs, the statement reads.

#3- Clothing company Shanghai Shengda signed a letter of intent to set up a USD 20 mn factory in the zone, according to a separate statement.

#4- A subsidiary of Golden Spring Group will set up a USD 12 mn textiles project.

AND- Energy firm Chint Global and the Zhejiang trade zone will work with the TEDA industrial zone to offer training.

Also on the table: Textile and green plastic producer Zhink expressed interest in being present in the SCZone, while Asdet said it wants to establish a 40k-sqm readymade garment factory, according to another statement. Chinese VC Estar Capital is interested in investing in our green hydrogen-feeding industries and energy sector. SCZone officials also met representatives from the home appliances giant Midea Group, who said that their USD 25 mn factorywill kick off operations next month, with the aim of exporting products in July.

The China roadshow so far: A Chinese consortium earlier last week offered to establish a USD 300 mn ironworks in the SCZone while Energy China said it would sign a framework agreement for its proposed green hydrogen within two months. SCZone Walid Gamal El Din also met with a number of other Chinese business leaders and investors about investing in the zone. China is the latest stop in a global tour which has this year seen SCZone representatives travel to Japan, the Netherlands, and Vietnam. It plans to head to India next month.

Western firms are also eyeing the SCZone:Volvo last week expressed interest in upping its investments in the zone during the Egyptian-Swedish Business Forum in Stockholm, the SCZone said in a statement.

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