Arab Finance: Chairman of the Suez Canal Economic Zone (SCZone) Waleid Gamal El-Dien has laid the foundation stone for the "FBB-Tech" electronics project in the Sokhna Industrial Zone, with investments worth $38 million, as per a statement.
Covering an area of 110,000 square meters, the project is being developed by China’s FBB-Tech in collaboration with Hisense, within the scope of the industrial developer TEDA-Egypt.
It aims to produce 1 million units annually and provide 337 job opportunities.
Gamal El-Dien noted that the FBB-Tech project aligns with Egypt’s efforts to promote sustainable development and investment in key sectors, including electronics and electrical appliances.
The project plans to allocate 30% of its production to the local market, while 70% will be exported to Europe and North and East Africa.
FBB Holding, established in 2019 and headquartered in Dubai, is a global trading company with a strong presence across Belgium, Germany, Libya, Egypt, Cyprus, Jordan, Bahrain, and the UAE.