In March, the Suez Canal Economic Zone saw the groundbreaking of a new factory designed to produce high-pressure pipes from flexible cast iron. The factory, established by the Chinese Shen Xing Company, will manufacture cast iron castings on a 270 thousand square meter area, with a focus on producing high-pressure pipes ranging from 100 mm to 1000 mm. The factory’s annual production capacity is 240 thousand tons, and it is expected to create 714 direct job opportunities.
The inauguration of the foundation stone was attended by Walid Gamal El-Din, the Chairman of the General Authority of the Suez Canal Economic Zone, along with other Chinese officials. The completion of the factory is set to be completed by the first quarter of 2025 and highlights the importance of localizing the cast iron pipe industry to reduce imports and meet local market needs.
Chinese officials emphasized their strong collaboration and strategic partnership with Egypt during this project, which has attracted more Chinese companies to invest in the Suez Canal Economic Zone. The strategic partnership between China and Egypt has already attracted significant numbers of companies and investments to the region, creating thousands of job opportunities and supporting regional development.
The President of Xin Xing Ductile Iron Pipe Company expressed excitement about expanding into the economic zone, enabling them to better serve customers in Egypt and North Africa. They plan to explore more projects in various fields such as pharmaceuticals and look forward to providing more job opportunities while supporting regional development. This inauguration marks a defining moment in Xin Xing’s history showcases its potential for further growth and development in the region.
In conclusion, this new factory represents an important step forward for both China-Egypt partnership and for localizing industries within Egypt’s economy. It highlights how strategic partnerships can lead to increased investment opportunities that ultimately benefit not only businesses but also support regional development.
