Cairo: Dr. Mostafa Madbouly, the Prime Minister, attended the signing ceremony of the land usufruct contract for the "Atom Solar Egypt" project in New Alamein City. This project signifies a partnership involving Egyptian, Emirati, Bahraini, and Chinese stakeholders to create a comprehensive industrial complex over 200,000 square metres. The complex will produce solar cells and panels with a combined capacity of 4 gigawatts and a factory for energy storage systems with a capacity of 1 gigawatt/hour, located in the Sokhna Industrial Zone, part of the General Authority for the Suez Canal Economic Zone.According to State Information Service Egypt, the ceremony was attended by Lieutenant General Kamel El-Wazir, Deputy Prime Minister for Industrial Development, Minister of Industry and Transport, and Mr. Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone. The contract was signed by Mr. Tsao Hui, Managing Director and Board Member of Teda, Engineer Ali Al-Shimary, CEO of "GSU", and Mr. Ahmed Abou Hashima, Chairman of "AH" for Industrial Management and Founder of "Atom Solar Egypt".The project is scheduled to be completed within three years, including construction and trial operations, before reaching full operational capacity. It involves a total investment of 220 million US dollars, approximately 11 billion Egyptian pounds, and is expected to create 841 direct job opportunities in Egypt.The solar cell factory's entire production will be exported to global markets facing a growing import gap. In contrast, the solar panel factory will cater to the local Egyptian market and regional markets in the Middle East and Africa. The project also plans to increase the use of local components by incorporating Egyptian-produced materials like aluminium and glass, thus bolstering the national industry and reducing reliance on imports.