A Chinese company focused on glass for construction and photovoltaic units plans to build a plant in Egypt.
China Glass Company wants to build a 500,000m2 glass factory in Sokhna Industrial Zone.
The new factory is planned to produce hundreds of thousands of glass products for construction and photovoltaic units, targeting up to $250 million in sales annually.
The glass factory is also expected to export 80 percent of its output. The project is expected to create between 600 and 800 jobs.
Egypt’s Suez Canal Economic Zone (SCZONE) on Tuesday (17 Oct 2023) signed a letter of intent (LOI) on Tuesday and three framework agreements with Chinese companies for industrial projects with $2.75 billion in investments.
The SCZONE also inked a framework agreement with China-Africa TEDA Investment and China Glass Company with $500 million in investments.