The head of the Suez Canal Economy witnesses the signing of a contract to establish an integrated glass factory in the Sokhna 360 area
Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone, witnessed the signing ceremony of a contract between Elsewedy Industrial Development Company, one of Elsewedy Electric, and Xinmin Glass Egypt Co., Ltd (under establishment), to allocate industrial land to establish a new factory for the production of glassware, Pyrex products, and glass tableware within Sokhna 360, the integrated industrial city. Developed by Elsewedy Industrial Development Company within the scope of the Suez Canal Economic Zone, the new facility extends over an area exceeding 163,000 square meters, with a total investment of more than 30 million dollars during the first phase, reaching more than 70 million dollars with the completion of the three phases of the project. It is expected to provide more than 1,000 direct job opportunities and 3,000 indirect opportunities, with a production capacity of more than 516 million pieces annually. The contract was signed by Elsewedy Industrial Development Company, Eng. Mohamed. Qamah, CEO of the company, and on the part of the Chinese investor, the company’s representative Zhao The Authority is moving forward in developing the business environment by expanding digital transformation, simplifying procedures through the one-stop-shop system, and providing automated services that make it easier for investors to complete their transactions.
Walid Gamal El-Din added that the glass industries sector is considered one of the most promising sectors within the Suez Canal Economic Zone, as it has great opportunities in deepening local manufacturing and increasing the added value of Egyptian products, thus enhancing Egypt’s competitive capabilities in exporting to regional and global markets, noting that the economic zone is working to expand the industries base. Transformational industries within its various industrial zones, including engineering, chemical, food, and building materials industries, in addition to glass industries that represent added value to Egyptian export-oriented industries. He explained that the Authority places as its top priority industrial integration between local and international companies, which contributes to raising production rates and localizing supply chains within the region.
In this context, Engineer/ Mohamed Al-Qamah, CEO of Elsewedy Industrial Development Company, confirmed that this contract reflects the confidence of international investors in the investment climate. In Egypt, and in the quality of infrastructure and integrated services that the company provides through its industrial cities, adding that the company is not satisfied with allocating land only, but also constantly invests in developing integrated infrastructure and smart services that make its cities more attractive, sustainable and efficient. It also accompanies its partners in all stages of their investments, and works to create an ideal business environment that contributes to attracting more foreign investments to the Egyptian market.
It is worth noting that the city of “Sokhna” “Sokhna 360”, which is developed by El Sewedy Industrial Development Company, extends over an area of 10 million square meters in the Sokhna Industrial Zone within the Suez Canal Economic Zone. With its strategic location and proximity to major ports and logistics hubs, it will be a major gateway for manufacturing and exporting to global markets. The city also enjoys the investment incentives provided by the economic zone.
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