The General Authority of the Suez Canal Economic Zone has officially commenced work on the Xinfeng Egypt Steel industrial complex in the Sokhna Integrated Zone. The $1.65 billion project spans 3.75 million square meters and will be developed over five years, creating more than 8,000 direct jobs.
The complex will consist of nine factories across two phases, along with research and development and solid waste recycling centers. The first phase includes factories for automotive brake disc components, home appliance parts, standard fasteners, and hot-rolled steel coils. The second phase will feature aluminum-magnesium alloy automotive components, steel structure equipment, automotive brake drum components, construction machinery parts, and cold-rolled steel coils.
Officials, including Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone, and Chinese representatives, attended the groundbreaking ceremony. Gamal El-Din highlighted the significance of the project, emphasizing its role in strengthening Egypt’s steel industry and localizing the automotive and home appliance sectors to boost exports and support the domestic market. He also noted that the economic zone has approximately 140 factories currently under construction, reinforcing Egypt's position as a strategic hub for industrial growth.
