{"id":619159,"date":"2024-04-28T00:00:00","date_gmt":"2024-04-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/28\/chinese-steel-factory-opens-in-sczone-plus-elaraby-and-taiwanese-company-to-build-ac-factory-public-enterprise-ministry-mulls-mineral-extraction-project\/"},"modified":"2024-04-28T00:00:00","modified_gmt":"2024-04-28T00:00:00","slug":"chinese-steel-factory-opens-in-sczone-plus-elaraby-and-taiwanese-company-to-build-ac-factory-public-enterprise-ministry-mulls-mineral-extraction-project","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/28\/chinese-steel-factory-opens-in-sczone-plus-elaraby-and-taiwanese-company-to-build-ac-factory-public-enterprise-ministry-mulls-mineral-extraction-project\/","title":{"rendered":"Chinese steel factory opens in SCZone. PLUS: Elaraby and Taiwanese company to build AC factory, Public Enterprise Ministry mulls mineral extraction project"},"content":{"rendered":"

Chinese state-owned construction giant inaugurates steel factory in the SCZone: <\/strong>The China State Construction Engineering Corporation (CSCEC) \u2014 the world\u2019s largest construction outfit by revenue \u2014 has opened the doors of its CNY 87.4 mn (c.USD 12.3 mn) steel structures manufacturing factory in the Suez Canal Economic Zone last week, a SCZone statement<\/a> said. <\/p>\n

About the factory: <\/strong>The factory has a production capacity of 25k tons of steel structuresannually, the statement read. The plant will create some 200 jobs. <\/p>\n

Fast-tracked factory:<\/strong> The factory was established within eight months, driven by thepartnership between the SCZone and China\u2019s special economic zone TEDA, the statement said. The factory will provide the technical development, design, testing, processing, and construction of steel structures.<\/p>\n

CSCEC loves Egypt:<\/strong> South Korean construction and plant operation company SK ecoplant willwork with CSCEC to build a green hydrogen and green ammonia plant<\/a> in the SCZone. The group has also been contracted to design and construct the Crystal Lagoon project<\/a> in downtown New Alamein on top of constructing five residential skyscrapers as part of the Alamein Downtown Towers project<\/a>. The state-owned construction giant may also establish a medical city project<\/a> in collaboration with the Health Ministry.<\/p>\n

ELARABY, RECHI\u2019S AC COMPRESSOR FACTORY IS COMING- <\/p>\n

An update on a long-stalled project: <\/strong>Local home appliance manufacturer Elaraby Groupinked a strategic partnership with Taiwanese manufacturer Rechi to build a USD 40 mn air conditioning compressor factory in Beni Suef with an initial investment of USD 10 mn, according to separate statements from the companies (here<\/a> and here<\/a>).<\/p>\n

. <\/p>\n

The details: <\/strong>The factory will kick off production in 2025 with an initial annual production capacity of 1.5 mn units, which will rise to 6 mn units. Half of the units will be earmarked for exports and the factory will create 500 new jobs. Rechi will hold a 51% stake in the project, according to Elaraby Group <\/p>\n

Years in the making: <\/strong>The project has been in the making since 2022<\/a>. At the time, the factorywas expected to start production in 2024. <\/p>\n

A SALT EXTRACTION COMPLEX- <\/p>\n

Salts, mineral extraction on the table: <\/strong>State-owned Holding Company for Chemical Industries subsidiary El Nasr Salines Company<\/a> has submitted a proposal to establish an integrated industrial complex to extract salts and minerals, a Public Enterprise Ministry statement<\/a> said. The project will be implemented in cooperation with private sector companies as part of a wider strategy to export high-value raw minerals.<\/p>\n

What we know: <\/strong>If given the greenlight, the project would extract an annual 380k tons of tablesalt, 140k tons of magnesium sulfate, 78k tons of magnesium hydroxide, 28k tons of potassium chloride, and 2.3k tons of bromine. <\/p>\n

What we don\u2019t know: <\/strong>The statement did not provide a timeline for the project or how much it would cost.<\/p>\n

MORE INTEREST IN SODIUM CYANIDE- <\/p>\n

A new USD 160 mn sodium cyanide project in the works:<\/strong> Austria\u2019s Petrochemical Holding Company and Czech company Draslovka are planning to jointly establish a sodium cyanide facility in Egypt, with delegations from the two companies discussing their plans last week with Trade Minister Ahmed Samir, according to a statement<\/a> from the ministry. The facility would see initial investments of USD 160 mn in its first phase, Samir said. <\/p>\n

SOUND SMART:<\/strong> Sodium cyanide is the solution commonly used for gold extraction from low-grade ore, and can be used to extract other metals, including copper, zinc, and silver.<\/p>\n

Not the first time foreign players have eyed sodium cyanide in Egypt:<\/strong>Last month<\/a>, German cyanide producer CyPlus submitted an investment proposal to set up a USD 150 mn factory that would produce 30k tonnes of sodium cyanide per annum, while another Austrian company separately submitted a proposal for a USD 120 mn factory. It remains unclear whether that Austrian company mentioned last month is the Petrochemical Holding Company. <\/p>\n","protected":false},"excerpt":{"rendered":"

The factory has an annual production capacity of 25k tons of steel structures<\/p>\n","protected":false},"author":1,"featured_media":619160,"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":[7255],"tags":[116,317,72,131,416],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-619159","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-manufacturing","tag-china","tag-commodities","tag-enterpriseam","tag-manufacturing","tag-suez-canal-economic-zone","wpautop","entry"],"acf":{"mongo_id":"930789eb-0a6b-4db4-8359-b574c476af59","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1883.jpg","photo_position":"above","homepage_title":"","full_issue_title":"USD 12 mn Chinese steel factory opens in Egypt\u2019s SCZone. 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PLUS: Danone to invest here this year.","author":"enterpriseam admin","date":"26 March 2023","format":false,"excerpt":"This is the latest in a string of Chinese investment in Egypt\u2019s manufacturing and infrastructure sectors","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/407.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590086,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/13\/more-chinese-firms-to-set-up-shop-in-sczone\/","url_meta":{"origin":619159,"position":3},"title":"More Chinese firms to set up shop in SCZone","author":"enterpriseam admin","date":"13 July 2023","format":false,"excerpt":"More than two-thirds of the money will go to textiles projects","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/504.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594427,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/29\/egypts-sczone-receives-bids-worth-usd-1-45-bn-to-establish-iron-steel-factories\/","url_meta":{"origin":619159,"position":4},"title":"Egypt\u2019s SCZone receives bids worth USD 1.45 bn to establish iron, steel factories","author":"enterpriseam admin","date":"29 October 2019","format":false,"excerpt":"The Suez Canal Economic Zone has received requests from two investors to implement USD 1.45 bn in projects, according to the local press. 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