{"id":590086,"date":"2023-07-13T00:00:00","date_gmt":"2023-07-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/13\/more-chinese-firms-to-set-up-shop-in-sczone\/"},"modified":"2023-07-13T00:00:00","modified_gmt":"2023-07-13T00:00:00","slug":"more-chinese-firms-to-set-up-shop-in-sczone","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/13\/more-chinese-firms-to-set-up-shop-in-sczone\/","title":{"rendered":"More Chinese firms to set up shop in SCZone"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span> <\/span><span style=\"font-weight:700\">More Chinese investments are coming to the SCZone: <\/span><span>The Suez Canal Economic <\/span><span>Zone (SCZone) and a number of Chinese companies have signed agreements to establish projects worth a combined USD 60 mn in investment \u2013 including USD 45 mn worth of textiles projects \u2014 in China\u2019s TEDA industrial zone in Ain Sokhna, the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/SCZONE.EG\/posts\/pfbid02rao3orxLgzpRqRi266Rnsjp2XvKn4c3cFrWHquKaJe5bBednXiyKrEieq7FrCPPql\" style=\"\">zone said<\/a><\/span><span style=\"font-weight:400;\"> yesterday. <\/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;\">Who\u2019s investing:<\/span><\/p>\n<ul>\n<li><span>Textile producer <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/www.dnb.com\/business-directory\/company-profiles.zhejiang_aoxiu_textile_new_material_technology_coltd.d156924f08cc5ec153ce640da1a08f2e.html\" style=\"\">Aoxiu Textile<\/a><\/span><span style=\"font-weight:400;\"> is investing USD 25 mn;<\/span><\/li>\n<li><span>A firm named<\/span><span style=\"font-weight:700\">Dew Textile Printing and Dyeing<\/span><span style=\"font-weight:400;\"> will commit USD 20 mn;<\/span><\/li>\n<li><span>An undisclosed investor will build a USD 10 mn <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.sciencedirect.com\/topics\/engineering\/curtain-wall#:~:text=A%20curtain%20wall%20is%20an,to%20keep%20out%20the%20weather.\" style=\"\">construction curtain wall<\/a><\/span><span style=\"font-weight:400;\"> project; <\/span><\/li>\n<li><span>EV charging stations and switchgears producer<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"http:\/\/www.kdweg.net\/nav\/2.html\" style=\"\">Kangdewei Electric<\/a><\/span><span style=\"font-weight:400;\"> is committing USD 3.2 mn;<\/span><\/li>\n<li><span>Metals and auto parts producer <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"http:\/\/www.jyzaiyu.com\/english\/\" style=\"\">Zaiyu<\/a><\/span><span style=\"font-weight:400;\">will invest USD 2 mn. <\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Details are scarce: <\/span><span style=\"font-weight:400;\">The SCZone statement doesn\u2019t provide any details on the projects, their implementation timelines or expected production capacities. <\/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\">More Chinese investments to roll in soon: <\/span><span>The SCZone in May <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fcb90924-b70d-4587-b5f5-cc652d64c922\" style=\"\">signed initial agreements<\/a><\/span><span style=\"font-weight:400;\"> with a number of Chinese companies that could see more than USD 700 mn invested in projects in TEDA. Those include a USD 265 mn power plant and a USD 100 mn petcoke products factory from Hidier Power Group, a USD 110 mn bromine factory from Shandong Tianyi, and a USD 20 mn clothing factory from Shanghai Shengda.<\/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 results of a successful roadshow: <\/span><span>The investments come following the SCZone\u2019s roadshow in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/04dda22d-b376-4d76-bf9a-50f917a5ac39\" style=\"\">China and Hong Kong<\/a><\/span><span style=\"font-weight:400;\"> in May, where CEO Walid Gamal El Din and his accompanying delegation met with a number of Chinese business leaders and investors in efforts to drum up interest in Egypt. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>More than two-thirds of the money will go to textiles projects<\/p>\n","protected":false},"author":1,"featured_media":590087,"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":[10786,975,72,125,10787,131,416,10788],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-590086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-aoxiu-textile","tag-egypt-china-relations","tag-enterpriseam","tag-investment-watch","tag-kangdewei-electric","tag-manufacturing","tag-suez-canal-economic-zone","tag-zaiyu","wpautop","entry"],"acf":{"mongo_id":"a5b7267c-c7ca-48bb-8d4a-a71d245d727b","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/7\/504.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Chinese companies to invest USD 60 mn in SCZone projects","related_issue":[590075],"teaser":"More than two-thirds of the money will go to textiles projects","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/7\/.0c5a1c7d-2f56-4a6b-aa10-f9453634bac8.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 firms to set up shop 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\/07\/13\/more-chinese-firms-to-set-up-shop-in-sczone\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"More Chinese firms to set up shop in SCZone\" \/>\n<meta property=\"og:description\" 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