According to an official statement, Waleid Gamal El-Dein, Chairman of the General Authority for the Suez Canal Economic Zone (SCZone), has laid the foundation stone for Chinese Xinfeng’s integrated steel industrial complex in Sokhna. The total investment in the project amounts to $1.65 billion.
The project covers an area of 3.75 million square meters and consists of nine factories divided into two phases, along with two service centers, one dedicated to research and development (R&D) and the other focused on solid waste recycling.
The initial phase is made of four factories producing automotive brake disc components, home appliance components, standard fasteners, and hot-rolled steel coils. The second phase includes five more factories focused on automotive aluminum-magnesium parts, steel structures, brake drums, construction machinery components, and cold-rolled steel coils.
Gamal El-Dein noted that the project generates over 8,000 direct jobs and strengthens the domestic production of automobiles and home appliances.
He added that “the complex reflects investor confidence in the business climate and highlights the zone’s strategic location, infrastructure upgrades, access to energy, and skilled labor. Around 140 factories are currently under construction in the SCZone.”