Egypt has signed $1.15bn in new industrial investment agreements with three Chinese companies in the Suez Canal Economic Zone, underscoring accelerating foreign interest in the country’s manufacturing push.
The contracts, signed between TEDA Egypt and the Chinese firms, will be implemented in the Sokhna Industrial Zone and are expected to create 5,400 direct jobs. The deals lift total investment attracted by the SCZONE to $5.1bn in the first half of FY 2025/26, already surpassing the $4.6bn recorded during the whole of FY 2024/25, according to zone chair Walid Gamal El-Dien.
Prime Minister Mostafa Madbouly, who witnessed the signing at the New Administrative Capital, said the projects reflect growing confidence among international investors in Egypt’s investment climate and the zone’s integrated industrial and port infrastructure.
The largest project will be led by Xin Feng Ming Group, which plans to invest more than $800mn in a three-phase polyester and polymer complex spanning 400,000 sq metres, with an annual capacity of 1.08mn tonnes. Production is scheduled to begin in late 2027, with later phases extending to 2030.
A second agreement with Chaoyang Langma Tyre covers a $190mn tyre manufacturing facility producing heavy truck and passenger car tyres, while Tongling Jieya Biotechnology will invest $160mn in a health products and nonwoven fabrics complex.
Officials said the mix of projects reflects the SCZONE’s strategy to attract diversified, export-oriented manufacturing and deepen local industrial value chains as Egypt seeks to expand production and employment.
