SCZONE lays foundation stone of $12M Vanward Electric factory in Sokhna TEDA-Egypt
Updated 1/21/2024 7:53:00 AM
Arab Finance: The General Authority for Suez Canal Economic Zone (SCZONE) has laid the foundation stone of the Chinese Vanward Electric factory for manufacturing household appliances and various heat exchangers within in the industrial zone in Sokhna TEDA-Egypt, as per a statement.
The factory is being built on an area of 26,000 square meters at an investment cost of $12 million.
The project will provide about 300 job opportunities, 90% of which are for Egyptian workers.
The construction work for the project will be wrapped up within nine months.
The project will produce 500,000 water heaters and 2 million spare parts annually.
It is worth noting that China’s latest promotional visit to the SCZONE in October witnessed the signing of 11 projects worth a combined $15.6 billion.
These projects are scheduled for implementation on an area spanning 4.9 million square meters, offering around 9,000 jobs.
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