Africa Business Communities
CSZONE has received €175 million  investments to establish factory and a solar energy plant

CSZONE has received €175 million investments to establish factory and a solar energy plant

Mr. Waleid Gamal El-Dien, Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE), witnessed the groundbreaking for Saint-Gobain’s third factory for glass production within the Sokhna integrated industrial zone, which is being built on an area of 200 thousand square meters, with a total investment of 175 million euros. He also witnessed the groundbreaking for a solar plant, which aims to produce 10 megawatts of electricity, and reduce approximately 6,000 tons of carbon emissions, in the presence of Mr. Eric Chevallier, French Ambassador to Cairo, and Mr. Hadi Nassif, CEO of Saint-Gobain for the East Mediterranean and Middle East cluster. 

” I’m glad to witness the groundbreaking for a new project for the French company Saint-Gobain, which represented the great partnership between SCZONE and French investments. The glass production project is a necessary need, which could be one of the complementary industries within Egypt’s plans to localize automotive industries in the East Port Said industrial zone. SCZONE also cooperates with French investments in green fuel production and the field of logistics in addition to many other industries, which confirms the depth of relations and common economic goals, whether in manufacturing or the practices that are consistent with clean energy and sustainable product production. The robust infrastructure, development of ports, trained technical labor, and the availability of energy resources are the greatest supportive investment incentives, in addition to the direct financial incentives. I really appreciated that the factory’s plan to export 60% of production is in line with Egypt’s goals to support exports and reach Exports worth $100 billion.” Mr. Waleid Gamal El-Dien, Chairman of SCZONE declared.

“I’m very happy to be in SCZONE, which enabled me to see the extent of development and I will visit it again to explore more about its projects. This event supports what the presidents of Egypt and France aim to achieve and confirms the depth of relations between the two countries. The construction of this new factory is evidence of the common economic visions, as Egypt is a crossing point for the Arab world and Africa. The solar energy plant represents the joint work that can be achieved in the field of reducing emissions, and working for the future through the exchange of experiences, research, and the transfer of technology.” Mr. Eric Chevallier said.

“The foundation stone for the factory and the solar energy plant expresses the goals of Saint-Gobain in order to provide innovative and sustainable building materials and to reach (Net Zero) by the year 2050. The remarkable development in the past years holds more opportunities, especially in light of Egypt’s efforts to stimulate industrial production, create job opportunities, and develop local competencies.” Mr. Hadi Nassif said

It is worth noting that the French company Saint-Gobain has a glass production factory on an area of 190,000 square meters and a mirror production factory on an area of 10,000 square meters, within the Sokhna Integrated Industrial Zone, in addition to the project whose foundation stone was laid today.

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