{"id":587325,"date":"2023-05-25T00:00:00","date_gmt":"2023-05-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/25\/chinese-consortium-wants-to-build-usd-300-mn-ironworks-in-sczone\/"},"modified":"2023-05-25T00:00:00","modified_gmt":"2023-05-25T00:00:00","slug":"chinese-consortium-wants-to-build-usd-300-mn-ironworks-in-sczone","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/25\/chinese-consortium-wants-to-build-usd-300-mn-ironworks-in-sczone\/","title":{"rendered":"Chinese consortium wants to build USD 300 mn ironworks in SCZone"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">A Chinese consortium has offered to establish a USD 300 mn ironworks in the Suez <\/span><span style=\"font-weight:700\">Canal Economic Zone<\/span><span>, the zone said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/pfbid02KHhGKEgVcpMxwpGgwkvwa2Dvec8hUx5c6F4btwdNKuaznhV2XyRBSEtiSqiKiFCZl\" style=\"\">a statement<\/a><\/span><span style=\"font-weight:400;\"> yesterday. The two companies \u2014 state-owned Sinoma and private metals manufacturer Xinfeng \u2014 discussed the project yesterday with SCZone CEO Walid Gamal El Din, who is currently in China to meet with local investors and business leaders.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What we know so far:<\/span><span style=\"\">The proposed two-phase complex project will stand across 750k sqm, <\/span><span style=\"font-weight:400;\">and it will provide 1.2k jobs. The statement did not disclose the production capacity of the plant, but said that output would initially be directed to the local market rather than exported overseas.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What\u2019s next:<\/span><span style=\"\"> The statement said that the SCZone is currently studying the offer, and that the <\/span><span style=\"font-weight:400;\">companies will soon visit Egypt to survey the proposed site for the plant.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Remember:<\/span><span style=\"\"> Gamal El Din and a SCZone delegation have been in China this week to gin up <\/span><span>interest in the zone among local business leaders. This is the latest roadshow in a global tour this year which has seen SCZone representatives travel to Japan, the Netherlands and Vietnam. It plans to head to India next month.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">ALSO FROM CHINA-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Producing hydrogen electrolyzers in Egypt: <\/span><span style=\"\">Gamal El Din met with representatives of heavy <\/span><span>equipment manufacturer <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/www.sanyglobal.com\/\" style=\"\">Sany Heavy Industry<\/a><\/span><span style=\"font-weight:400;\"> to discuss setting up a factory to produce electrolyzers, a key component needed to produce hydrogen.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Remember: <\/span><span style=\"\">Egypt wants to capitalize on the growing global interest in green hydrogen as a <\/span><span>low-carbon energy source by establishing itself as one of the region\u2019s leading suppliers. The government <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0f2251cd-82db-4ba9-9ef9-b1287b0bef1f\" style=\"\">signed nine framework agreements<\/a><\/span><span style=\"font-weight:400;\"> for green hydrogen plants on the sidelines of last year\u2019s COP27 climate summit which it hopes to soon convert into final investment decisions.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">There will soon be a tenth:<\/span><span style=\"\"> In a meeting with Walid this week, Energy China <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dd3b1cd0-6bc7-490d-b0ca-2a381896d0a8\" style=\"\">said it will sign<\/a><\/span><span style=\"\"> a <\/span><span>framework agreement for <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fa878ad1-53fa-486f-9f54-cd3f552f5e3c\" style=\"\">its proposed green hydrogen plant<\/a><\/span><span style=\"font-weight:400;\"> within the next two months.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Speaking of which- The Dutch are exploring green hydrogen in Egypt: <\/span><span style=\"\">Dutch government <\/span><span>offici<\/span><span>als and an unnamed green energy company were at the SCZone yesterday to discuss Egypt\u2019s potential as a green hydrogen hub, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3ox4XFR\" style=\"\">statement<\/a><\/span><span>.<\/span><span style=\"\"> Gamal El Din <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ea1f2ee0-de5d-420b-8030-37c9d8e2504c\" style=\"\">visited the Netherlands<\/a><\/span><span style=\"\"> earlier this month to discuss investment opportunities in the zone.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A growing appetite in the SCZone green hydrogen projects<\/p>\n","protected":false},"author":1,"featured_media":587326,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[975,93,72,254,7196,125,131,416],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-587325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-egypt-china-relations","tag-energy","tag-enterpriseam","tag-green-hydrogen","tag-industry","tag-investment-watch","tag-manufacturing","tag-suez-canal-economic-zone","wpautop","entry"],"acf":{"mongo_id":"fb2abe6e-1453-4bcc-af1c-329445278b8c","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/1397.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Chinese consortium wants to build USD 300 mn ironworks in SCZone","related_issue":[587318],"teaser":"A growing appetite in the SCZone green hydrogen projects","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.74777f85-cc74-4c1c-9f00-066c9ce59570.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Chinese consortium wants to build USD 300 mn ironworks in SCZone - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/25\/chinese-consortium-wants-to-build-usd-300-mn-ironworks-in-sczone\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chinese consortium wants to build USD 300 mn 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