The Suez Canal Economic Zone recently signed a framework agreement for a chemical project with investments totaling $250 million. The project, named “Green Marine,” is a collaboration with the Chinese “Pinghua” group in the Teda-Egypt area in Sokhna. The signing ceremony was attended by various officials, including the Chairman of the General Authority of the Suez Canal Economic Zone, the Chairman of TEDA-Egypt, the Mayor of Binzhou Municipality in China, and representatives from the Binhua Group of Companies.
The project will be implemented in three phases, with the first phase covering an area of 300,000 square meters and costing $250 million. It aims to produce various chemicals such as caustic soda, hydrochloric acid, bleaching materials, detergents, colors for textiles and fabrics, and bromine ore. With an annual revenue of $230 million, this project signifies ongoing successful cooperation between Chinese investors and Egyptian economic development progress.
The second phase will focus on expanding production to meet local industry needs such as cars and building materials while also developing soda ash products for high-quality glass production. This phase represents a unique opportunity for further collaboration with Chinese companies in the Suez Canal Economic Zone.
Walid Gamal El-Din emphasized that this project marks a significant milestone in Chinese investments and praised the strategic partnership between the economic zone and Chinese investors. This project signifies ongoing successful cooperation between Egypt and China’s economies.
