{"id":587441,"date":"2023-05-28T00:00:00","date_gmt":"2023-05-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/28\/more-chinese-energy-chemicals-and-textiles-projects-in-the-sczone\/"},"modified":"2023-05-28T00:00:00","modified_gmt":"2023-05-28T00:00:00","slug":"more-chinese-energy-chemicals-and-textiles-projects-in-the-sczone","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/28\/more-chinese-energy-chemicals-and-textiles-projects-in-the-sczone\/","title":{"rendered":"More Chinese energy, chemicals, and textiles projects in the 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\">More Chinese investment in the SCZone is in the cards:<\/span><span style=\"\"> The Suez Canal Economic <\/span><span>Zone (SCZone) has signed agreements with a number of Chinese companies that could see <\/span><span>more than USD 700 mn<\/span><span> invested in projects in China\u2019s TEDA industrial zone in Ain Sokhna, the zone said over the weekend. <\/span><span style=\"font-weight:400;\">The agreements were signed in Hangzhou city, the latest stop on the zone\u2019s ongoing roadshow in China and Hong Kong. No details were given on the timeline to implement the projects. <\/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\">#1- <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"http:\/\/www.hidier.com\/index.php?m=home&c=Lists&a=index&tid=81&lang=en\" style=\"\">Hidier Power Group<\/a><\/span><span style=\"\"> will build a <\/span><span style=\"font-weight:700\">USD 265 mn power plant <\/span><span style=\"\">in the SCZone. The company <\/span><span>will spend USD 38 mn to build a 200MW substation in the initial phase of the project, the zone said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0nW14P7vsN2vKrFRqVHpRETsZhAmKHbD61Y3DUyytaMxNLKQoyWZq3DLdDuwEt8Kyl\" style=\"\">a statement<\/a><\/span><span style=\"font-weight:400;\"> Friday. <\/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\">Hidier<\/span><span style=\"\"> will also construct a <\/span><span style=\"font-weight:700\">USD 100 mn<\/span><span style=\"\"> petcoke products factory. The first phase will cost <\/span><span style=\"font-weight:400;\">some USD 30 mn and produce 50k tons of products annually. <\/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\">#2- <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"http:\/\/www.tychemgroup.com\/\" style=\"\">Shandong Tianyi<\/a><\/span><span style=\"\"> will build a <\/span><span style=\"font-weight:700\">USD 110 mn bromine factory<\/span><span style=\"\"> with a production capacity of <\/span><span>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 <\/span><span style=\"font-weight:700\">USD 200 mn sodium hydroxide project<\/span><span>, producing raw salt, sodium bicarbonate, chlorine, and hydrogen that wasn\u2019t i<\/span><span>ncluded in the SCZone\u2019s overall tally of fresh investment<\/span><span style=\"font-weight:400;\">s. That project is expected to generate annual turnover of USD 160 mn and create 420 jobs, the statement reads. <\/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\">#3-<\/span><span style=\"\"> Clothing company <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"http:\/\/www.sh-shengda.com\/En.php\" style=\"\">Shanghai Shengda<\/a><\/span><span style=\"\"> signed a letter of intent to set up a <\/span><span style=\"font-weight:700\">USD 20 mn <\/span><span style=\"font-weight:700\">factory<\/span><span> in the zone, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/pfbid02vAGVbavzP5SD4taxpMxUqtgVFDPiBgMdt8gPoAq3AvGhcM3X3oTdKbFupZTVm8Lrl\" style=\"\">a separate statement<\/a><\/span><span style=\"font-weight:400;\">.<\/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\">#4- <\/span><span style=\"\">A subsidiary of <\/span><span style=\"font-weight:700\">Golden Spring Group <\/span><span style=\"\">will set up a <\/span><span style=\"font-weight:700\">USD 12 mn textiles project<\/span><span style=\"\">. <\/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\">AND-<\/span><span style=\"\"> Energy firm <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/chintglobal.com\/\" style=\"\">Chint Global<\/a><\/span><span style=\"\"> and the <\/span><span style=\"font-weight:700\">Zhejiang trade zone<\/span><span style=\"\"> will work with the TEDA industrial <\/span><span style=\"font-weight:400;\">zone to offer training.  <\/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 on the table: <\/span><span style=\"\">Textile and green plastic producer <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zhink.cc\/index\/industry_brand\/project\/cat_id\/15-en.html\" style=\"\">Zhink<\/a><\/span><span style=\"\"> expressed interest in being present <\/span><span>in the SCZone, while <\/span><span>Asdet <\/span><span>said it wants to establish a 40k-sqm readymade garment factory, according to another <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/pfbid0KxU4RM53ybtJkmXNvJJbn8SRp5scTkLSW6HQYHkhnxwfEjAv1i2NPsRj16dVZdntl\" style=\"\">statement<\/a><\/span><span>. <\/span><span>Chinese VC <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/www.chentao-capital.com\/\" style=\"\">Estar Capital<\/a><\/span><span> is interested in investing in our green hydrogen-feeding industries and energy sector. <\/span><span>SCZone officials also met representatives from the home appliances gian<\/span><span>t <\/span><span>Midea Group, who said that their <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8a13e6dd-4aba-44b9-88de-d126e0d0b819\" style=\"\">USD 25 mn factory<\/a><\/span><span>will kick off operations next month, with the aim of exporting products in July. <\/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\">The China roadshow so far:<\/span><span style=\"\"> A Chinese consortium earlier last week <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fb2abe6e-1453-4bcc-af1c-329445278b8c\" style=\"\">offered<\/a><\/span><span style=\"\"> to establish a <\/span><span>USD 300 mn ironworks in the SCZone while Energy China said it would <\/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=\"\">sign a framework agreement<\/a><\/span><span style=\"font-weight:400;\"> 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. <\/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\">Western firms are also eyeing the SCZone:<\/span><span style=\"\">Volvo last week expressed interest in upping its <\/span><span>investments in the zone <\/span><span>during the Egyptian-Swedish Business Forum in Stockholm, the SCZone said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/pfbid02aLHVEFw4omB6pQQD1fLicy14hvfDqTZQTQq4VG73M8teAUM1u7CSEC5QYKWXiAUal\" style=\"\">a statement<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The agreements signed are worth a combined USD 707 mn<\/p>\n","protected":false},"author":1,"featured_media":587442,"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":[975,93,72,125,131,705,416,2080],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-587441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-egypt-china-relations","tag-energy","tag-enterpriseam","tag-investment-watch","tag-manufacturing","tag-petrochemicals","tag-suez-canal-economic-zone","tag-textiles","wpautop","entry"],"acf":{"mongo_id":"fcb90924-b70d-4587-b5f5-cc652d64c922","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/1445.jpeg","photo_position":"above","homepage_title":"","full_issue_title":"Chinese firms to build energy, chemicals, textiles plants in Egypt\u2019s SCZone","related_issue":[587434],"teaser":"The agreements signed are worth a combined USD 707 mn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.e8c47952-f238-494f-9533-8d313609f87a.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>More Chinese energy, chemicals, and textiles projects in the 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\/28\/more-chinese-energy-chemicals-and-textiles-projects-in-the-sczone\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"More Chinese energy, 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