{"id":657186,"date":"2024-12-16T00:00:00","date_gmt":"2024-12-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/chinese-company-sets-up-usd-1-65-bn-industrial-complex-in-sczone\/"},"modified":"2024-12-16T00:00:00","modified_gmt":"2024-12-16T00:00:00","slug":"chinese-company-sets-up-usd-1-65-bn-industrial-complex-in-sczone","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/chinese-company-sets-up-usd-1-65-bn-industrial-complex-in-sczone\/","title":{"rendered":"Chinese company sets up USD 1.65 bn industrial complex in SCZone"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good afternoon, wonderful people.<\/strong> It seems that the news lull we predicted has proven false. Today\u2019s issue is packed with local, international, and cloud-based news, and a couple of recommendations if you\u2019re enjoying a night in.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Chinese steelmaker Wu\u2019an Xin Feng has a plan to set up a USD 1.65 bn<\/strong><strong> integrated industrial complex in the SCZone<\/strong>, which is planned to house nine factories and create 8k jobs, according to an Industry Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02xkCrwMbvgjJysv35iUmrE9QypNHi1zBN5PQw6KGGk2UJQJYMEo2Gk1UCHqNPEoe8l\" style=\"\" rel=\"noopener\">statement<\/a>. The first phase will include four factories for automotive brake components, household appliance parts, standard fasteners, and hot-rolled steel coils, while the second phase will add five more factories, producing automotive parts made from aluminum and magnesium alloys, construction machinery components, and cold-rolled steel coils.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Natural disasters \u2014 instead of man-made ones \u2014 lead the world\u2019s press this afternoon<\/strong>, with news that potentially thousands have been killed after Cyclone Chido hit the French territory of Mayotte in the Indian Ocean. The category four storm \u2014 said to be the worst cyclone to hit the island since 1934 \u2014 has left Mayotte\u2019s healthcare and infrastructure in tatters and ripped through the territory\u2019s shantytowns. French authorities say that some 800 medical personnel will arrive to aid the survivors. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/europe\/key-facts-about-mayotte-pummelled-by-cyclone-chido-2024-12-15\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/12\/16\/africa\/mayotte-cyclone-chido-intl-hnk\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/world\/2024\/dec\/16\/mayotte-cyclone-health-services-in-ruins-with-death-toll-feared-to-reach-thousands\" style=\"\" rel=\"noopener\">Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/www.npr.org\/2024\/12\/16\/g-s1-38396\/dead-mayotte-cyclone-chido\" style=\"\" rel=\"noopener\">NPR<\/a>)<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/oliv-finance\/\" style=\"\" rel=\"noopener\">Oliv<\/a><\/strong> <strong> has <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b5ccb90c-8750-4bcf-b875-01156879441e\/oliv-receives-egypt%e2%80%99s-first-digital-factoring-license\" style=\"\" rel=\"noopener\">secured<\/a><\/strong> <strong> Egypt\u2019s first digital factoring license from the Financial<\/strong><strong> Regulatory Authority. <\/strong>The move will see Oliv leveraging the government\u2019s e-invoicing infrastructure to bring a fresh product to the underserved SME financing market this week.<\/li>\n<li><strong>Egypt\u2019s first SPAC is gearing up for its first acquisition. <\/strong>Impact investor Catalyst Partners\u2019 SPAC, Catalyst Partners Middle East (CPME) is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/add97eb5-5ab0-4599-be02-6e95269ae6e2\/egypt%e2%80%99s-first-spac-looks-to-acquire-qardy-through-share-swap\" style=\"\" rel=\"noopener\">looking to acquire<\/a> digital lending marketplace <a target=\"_blank\" href=\"https:\/\/eqardy.com\/home\" style=\"\" rel=\"noopener\">Qardy<\/a> through a full or partial share swap.<\/li>\n<li><strong>The gov\u2019t <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0P3fzMS1b62uvraPSfWpBeypnh2YRQ7TPCazjEZY2A8i7NBwpaexRE1r3WF119QvXl\" style=\"\" rel=\"noopener\">laid out<\/a><\/strong> <strong> the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6eb8ac38-6fd7-40e3-bd04-9d4c309d0453\/egypt-lays-out-23-priority-industries-for-its-localization-push\" style=\"\" rel=\"noopener\">23 industries<\/a><\/strong><strong> that it's looking to localize<\/strong>, adding that the state is offering incentives and facilities to attract investments into these selected sectors.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2600\ufe0f <\/strong><strong>TOMORROW\u2019S WEATHER- <\/strong>Temperatures in the capital tomorrow will maintain this week\u2019s chill, with expected highs of 22\u00b0C and low of 12\u00b0C at night, according to our favourite weather app.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, wonderful people. It seems that the news lull we predicted has proven false. Today\u2019s issue is packed with local, international, and cloud-based news, and a couple of recommendations if you\u2019re enjoying a night in. THE BIG STORY TODAY- Chinese steelmaker Wu\u2019an Xin Feng has a plan to set up a USD 1.65 bn [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":657187,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7213],"tags":[116,633,7196,6702,7103,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-657186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-china","tag-enterprisepm","tag-industry","tag-sczone","tag-suez-canal","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"1a67abc1-8037-42b6-a1b1-1fbfd59e8642","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2021\/8\/323.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[657184],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.776a3b0f-d313-4a0a-93ab-21318a061c04.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 company sets up USD 1.65 bn industrial complex 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\/2024\/12\/16\/chinese-company-sets-up-usd-1-65-bn-industrial-complex-in-sczone\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chinese company sets up USD 1.65 bn industrial complex in SCZone\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, wonderful people. It seems that the news lull we predicted has proven false. Today\u2019s issue is packed with local, international, and cloud-based news, and a couple of recommendations if you\u2019re enjoying a night in. THE BIG STORY TODAY- Chinese steelmaker Wu\u2019an Xin Feng has a plan to set up a USD 1.65 bn [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/chinese-company-sets-up-usd-1-65-bn-industrial-complex-in-sczone\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-16T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/323.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/chinese-company-sets-up-usd-1-65-bn-industrial-complex-in-sczone\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/chinese-company-sets-up-usd-1-65-bn-industrial-complex-in-sczone\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Chinese company sets up USD 1.65 bn industrial complex in SCZone\",\"datePublished\":\"2024-12-16T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/chinese-company-sets-up-usd-1-65-bn-industrial-complex-in-sczone\/\"},\"wordCount\":390,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/chinese-company-sets-up-usd-1-65-bn-industrial-complex-in-sczone\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/323.jpg?fit=%2C&ssl=1\",\"keywords\":[\"China\",\"EnterprisePM\",\"industry\",\"SCZone\",\"Suez Canal\",\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"articleSection\":[\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/chinese-company-sets-up-usd-1-65-bn-industrial-complex-in-sczone\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/12\/16\/chinese-company-sets-up-usd-1-65-bn-industrial-complex-in-sczone\/\",\"name\":\"Chinese company sets up USD 1.65 bn industrial complex in SCZone - 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