The Suez Canal Economic Zone recently marked the opening of a new factory with a $146 million investment for the production of high-pressure pipes made from flexible cast iron. The Chinese Shen Xing Company is establishing the factory on a 270,000 square meter area to manufacture cast iron castings. The factory’s goal is to produce high-pressure pipes ranging from 100 mm to 1000 mm. With an annual production capacity of 240,000 tons, the project is expected to create 714 direct job opportunities.
In March, a contract was signed to transfer the usufruct of the project area, located within the TEDA Industrial Zone, to Xin Shing Company for the Manufacture of Ductile Pipes. The foundation stone laying ceremony was attended by Walid Gamal El-Din, Chairman of the General Authority of the Suez Canal Economic Zone, along with other dignitaries from the Chinese Embassy in Cairo and TEDA China Africa.
During the ceremony, Walid Gamal El-Din emphasized the importance of localizing the cast iron pipe industry to reduce imports and meet local market needs while also expanding into regional markets. Zhao Liuqing, Commercial Attaché of the Chinese Embassy in Cairo, highlighted the significance of Egypt-China relations and the success of cooperation in line with the Belt and Road Strategy.
Wei Jianqing, Executive General Manager of TEDA China Africa, expressed gratitude for the cooperation and support from the Suez Canal Economic Zone, which has attracted over 160 companies with total investments of two billion US dollars, providing 50,000 job opportunities and strengthening strategic partnerships between both countries.
Wei Maolin, President of Xin Xing Ductile Iron Pipe Company, emphasized that this was a historical moment for his company and its commitment to providing services to customers in Egypt and North Africa while generating job opportunities and supporting regional development. He expressed his desire to expand his company’s presence in Egypt through future projects in various industries.