The Chairman of the General Authority for the Suez Canal Economic Zone (SCZone), Waleid Gamal El-Dein, has laid the foundation stone for Chinese company Xinfeng’s integrated industrial steel complex in Sokhna. The project represents a total investment of USD 1.65 bln, according to an official statement.
Spanning 3.75 mln square meters, the complex will be developed in two phases and will house nine factories, along with two facilities, one dedicated to research and development (R&D) and the other to solid waste recycling.
The first phase will cover 2 mln square meters and include four factories, with the first three expected to begin operations in early 2027. This phase will generate 4,419 jobs and will include production facilities for automotive components with a capacity of 230,000 tons per year, metallic home appliance components at 50,000 tons annually, standard fasteners at 100,000 tons annually, and hot-rolled coil production reaching 2 mln tons per year.
The second phase will extend across 1.75 mln square meters and add five more factories, creating an additional 3,575 jobs. This phase will feature facilities for producing 200,000 tons of machinery spare parts, 150,000 tons of rake discs, 100,000 tons of steel structures, 20,000 tons of aluminum-magnesium alloy auto parts, and 2 mln tons of cold-rolled steel annually. Pilot operations for the first four factories in this phase are scheduled to begin in January 2029, with the cold-rolled steel facility expected to commence operations in March 2030.
Gamal El-Dein highlighted that the project will provide over 8,000 direct jobs and significantly contribute to the localization of Egypt’s automotive and home appliance industries.