Cairo: Prime Minister Moustafa Madbouli reviewed a plan to localize solar photovoltaic (PV) glass manufacturing with an investment of $700 million. Madbouli highlighted the strong political and economic ties between Egypt and China, noting the successful investment partnerships between the two nations.

According to State Information Service Egypt, the review took place during a meeting with William Chen, Chairman of China-based SBH Kibing Solar New Energy, and his delegation. The meeting also included the presence of Walid Gamal Eldin, Chairman of the Suez Canal Economic Zone Authority. SBH Kibing Solar New Energy is recognized as one of the top three companies globally in the field of solar panel glass manufacturing.

The company plans to establish a factory in the Suez Canal Economic Zone, aiming to localize the solar PV glass industry with a $700 million investment. The majority of the factory’s production is intended for export. The company is currently in discussions to secure the necessary permits for the project.

William Chen expressed the company’s intent to localize the solar panel glass industry in Egypt and mentioned plans to collaborate with the Egyptian government to manufacture other types of glass. The proposed project, which will be executed in two phases, is designed to produce 1.53 million tons of solar panel glass and 1.08 million tons of high purity silica sand. Chen also discussed the project’s requirements for power, gas supplies, and silica sand necessary for production.