Cairo: Ain Sokhna: Chairman of the Suez Canal Economic Zone (SCZone) Walid Gamal El-Din attended the groundbreaking ceremony for the new CNG Egypt New Energy Glass Project, a subsidiary of China Glass Holding, at the TEDA industrial zone. El-Din underlined that the facility’s production of flat and photovoltaic glass, which is used in solar panel manufacturing, will support the growth of renewable energy industries.

According to State Information Service Egypt, the project will cover an area of 500,000 square meters, with total investments amounting to $300 million. It is set to build two production lines-one for flat glass with a daily capacity of 1,000 tons, and another for photovoltaic glass with a daily capacity of 800 tons. Upon completion, the project is expected to create 1,000 job opportunities.

The ceremony was also attended by Li DaiXin, Chairman of TEDA Egypt and TEDA China Africa, and Cai Guo, Vice Chairman of China Glass Holding, along with a number of executives from the SCZone authority. Duri
ng his speech, El-Din emphasized that the SCZone has become a prime destination for Chinese investments, with its strategic location along the Red Sea and Mediterranean coasts offering immense opportunities to enhance maritime trade.

El-Din further highlighted that the zone’s industrial zones are fully equipped to accommodate a wide range of industries. He reiterated the SCZone’s commitment to supporting TEDA Egypt and attracting more Chinese companies, which now number close to 200 within the area.

On behalf of the company, Cai Guo expressed his gratitude for the SCZone’s continuous support, which has been instrumental in bringing the project to its production phase. He also highlighted the company’s strategy to reduce carbon emissions in its products, contributing to the global transition to a green economy.

Li DaiXin also emphasized the ongoing support provided by the SCZone to the TEDA Egypt area and its businesses, highlighting that 2024 marks the 10th anniversary of the comprehensive strategic partne
rship between the two. He pointed out that 19 companies are now operating in the Sokhna industrial zone, with New Energy Glass being the largest in terms of area and investment size.