This morning, Walid Gamal El-Din, Chairman of the General Authority of the Suez Canal Economic Zone, witnessed the inauguration ceremony of the foundation stone of the Chinese company “CNG Egypt New Energy Glass”, a subsidiary of “China Glass Holding”, In the industrial zone in Sokhna, within the scope of the industrial developer (TEDA-Egypt), with the aim of establishing a production line for flat glass with a daily capacity of 1,000 tons, and a production line for photoelectric glass with a daily capacity. 800 tons, on an area of 500,000 square metres, with a total investment of $300 million, creating 1,000 job opportunities after the completion of the project, in the presence of Li DaiXin, Chairman of the Board of Directors of TEDA Egypt and TEDA China Africa, and Cai Guo, Vice President of China Holding Company. Glass, and a number of the authority’s executive leaders.
Walid Gamal El-Din stressed his pride in the partnership between the Suez Canal economy and Chinese investments, which provided a role model for economic cooperation based on mutual trust and teamwork, as the economic zone has become a destination for Chinese investments wishing to develop and grow through the presence of the Authority’s ports on the Red Sea and the Mediterranean Sea, which It provides tremendous opportunities to enhance maritime trade, as well as industrial areas qualified to receive all types of industries.
Walid Gamal El-Din added that the “New Energy Glass” project adds a new chapter to the successes of cooperation between the Suez Canal Economic Zone and Chinese investments.
He also pointed out the importance of the project in supporting industries complementary to renewable energy projects through the production of flat glass and photovoltaic glass, which is used in the production of solar panels, and stressed the support of the economic zone for the industrial developer (TEDA-Egypt) to attract more Chinese companies, which have reached Nearly 200 companies so far.
For his part, Cai Guo expressed his gratitude for the support of the Suez Canal Economic Zone for the project to reach the production stage, and stressed that the company is pursuing a strategy aimed at reducing carbon levels in its products as a contribution towards the global transformation of the green economy.
Li DaiXin also added that the Suez Canal Economic Zone provides continuous support to the TEDA-Egypt region and the companies operating in it, and just as the year 2024 represents 10 years of comprehensive strategic relations between the two countries, it also represents a development in cooperation between TEDA-Egypt and the TEDA-Egypt Canal Economic Zone. Suez, where 19 companies were attracted to work within the industrial zone in Sokhna, and the “New Energy Glass” project is the largest of them in terms of area and volume of investments.
It is worth noting that 6 projects were contracted for Chinese investments to be held within the Suez Canal Economic Zone, with total investments exceeding 1.067 billion dollars and a total area of one million and two hundred thousand square metres, on the sidelines of the promotional tour carried out by the head of the Suez Canal Economic Zone in the State of China in September. the past.
