Arab Finance: The General Authority for the Suez Canal Economic Zone (SCZONE) has laid the foundation stone of the China-based Xinxing Ductile Iron Pipes Corporation’s factory, as per a statement on April 30^th.

The factory aims to produce high-pressure pipes made of flexible cast iron ranging from 100 to 1,000 millimeters, with an annual production capacity of 240,000 tons.

Spanning an area of 270,000 square meters, the project has a total investment cost of $146 million.

The construction works of the factory are scheduled for completion in the first quarter (Q1) of 2025, and is expected to provide 714 direct job opportunities.

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