The Chinese Pinghua group recently signed a framework agreement with the General Authority of the Suez Canal Economic Zone to establish a chemical project named “Green Marine” in the Teda-Egypt area in Sokhna. The project will involve investments amounting to $250 million and aims to produce various chemicals, providing job opportunities and generating annual revenue.
The signing ceremony was attended by several key figures from the General Authority of the Suez Canal Economic Zone, TEDA-Egypt, and the Binhua Group of Companies. The agreement was signed by representatives of the Authority and Binhua for the Middle East and Africa, in the presence of the Chinese Embassy in Cairo.
The project will be implemented in three phases, with the first phase focusing on producing caustic soda, hydrochloric acid, bleaching materials, detergents, and other chemicals. The subsequent phases will expand the production scope to meet local industry needs and develop advanced technologies for new chemicals.
Walid Gamal El-Din, Chairman of the General Authority, emphasized the significance of Chinese investments in the region and the strategic partnership between the economic zone and Chinese investors. Yu Jiang, Chairman of the Penghua Group, highlighted Egypt’s economic development efforts and
