CAIRO – Chairman of the General Authority for Suez Canal Economic Zone (SCZONE) Walid Gamal el Din and Chairman of TEDA Egypt and TEDA China Africa Li DaiXin, laid the foundation stone of a project affiliated to CNG Egypt New Energy Glass, a subsidiary of China Glass Holding, in the China-Egypt TEDA Cooperation Zone in Ain Sokhna.
In a statement released, the SCZONE said the project includes a production line for plate glass with a daily capacity of 1,000 tons and another production line for photovoltaic glass with a daily capacity of 800 tons.
The project, to be built on an area of 500,000 square meters with costs amounting to USD 300 million, is expected to create 1,000 jobs upon completion, the statement added.
Gamal el Din expressed appreciation of the partnership between the SCZONE and Chinese companies that presents an example of economic cooperation based on mutual trust and teamwork.
SCZONE chairman said the project contributes to backing the renewable energy sector, through the production of flat glass and photovoltaic glass used in the production of solar panels, stressing the economic zone’s support for efforts to attract more Chinese businesses to the TEDA Zone, where nearly 200 companies are presently operating.
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