Arab Finance: Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone, witnessed the ceremony of laying the foundation stone for the company’s factory.Elite Solar For solar energy – Elite Solar PV” from China, within the scope of the industrial developer “TEDA Misr” within the integrated Sokhna region of the Suez Canal Economic Zone. The company’s project aims to manufacture N-type solar cells, and manufacture and assemble “Module-Cell-Wafer” photovoltaic energy systems, with a production capacity 2 gigawatts, with an investment cost of $150 million. The project is located on an area of 78 thousand square meters in Sokhna, and provides 600 direct job opportunities. It is planned to open the first phase of the project in September 2025.
On the sidelines of the celebration ceremony, Walid Gamal El-Din stated that the Suez Canal Economic Zone has always been keen to strengthen the Egyptian-Chinese strategic partnership, by translating that partnership into projects that support the Egyptian economy through the localization of industry and the creation of integrated value chains, and also enhances the exports of Chinese companies to global markets from Through the distinguished geographical location of the Authority, its four industrial zones and its six ports on the Mediterranean and Red Seas, in addition to the free and international trade agreements that allow access to more than two billion global consumers, he also stressed the importance of the “Elite” project. “Solar” as it represents another pivotal link added to the links of the entire supply chain of photovoltaic energy industries, as one of the complementary and feeding industries to the green fuel sector, which the Authority seeks to localize and become the leading global center for its production, trading, and ship bunkering, within the framework of the Authority’s strategy for transitioning to a green economy, in line with the vision of Egypt 2030; The Egyptian state aims to support green energy production to become 42% of the total energy in Egypt by 2030.
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