Dr. Mostafa Madbouly, Prime Minister, inaugurated today, during his tour of the Suez Canal Economic Zone, the Chinese “Xin Sheng” factory for the production of ductile iron pipes. He was accompanied by Kamel El Wazir, Deputy Prime Minister for Industrial Development, Minister of Industry and Transport, Sherif El Sherbiny, Minister of Housing, Utilities and Urban Communities, Tarek El Shazly, Governor of Suez, Walid Gamal El Din, Chairman of the General Authority for the Suez Canal Economic Zone, representatives of the Chinese Embassy in Cairo, and company officials in China and Egypt.
Following the inauguration, the Prime Minister noted that the "Shen Sheng" project is of particular importance, as it will help reduce the import bill for ductile pipes, which are used in numerous major national projects in utilities, infrastructure, and housing. The project also aims to localize this important industry to meet the needs of the local market and neighboring regional markets, as well as for export abroad.
Madbouly affirmed that the government continues to support the Suez Canal Economic Zone's efforts to attract investment in targeted industrial and logistics sectors, as well as boost Egyptian exports. He emphasized the need to continue working at an accelerated pace to complete the ongoing development work at ports and industrial zones, which will position the economic zone as a leading logistics hub supporting global supply chains.
Walid Gamal El-Din said that the economic zone is keen to provide various forms of support to investors to facilitate the procedures and steps for implementing their projects within the zone. He pointed out that the contract for the "Xin Sheng" project was signed in March 2024, the foundation stone was laid in April of the same year, and now we are witnessing its official opening, which reflects the full cooperation between the economic zone, the industrial developer, and the investor. In light of this integrated approach adopted by the authority, it has succeeded during the past period in implementing actual contracts for 274 projects within the zone, whether in ports or industrial zones. These projects are being opened one after the other, making 2025 the "year of openings" for the authority.
The head of the economic zone noted the authority's aspiration for further contracts in the coming period, in line with the authority's strategic vision of localizing industry, transferring technology, and exporting abroad.
During his tour of the factory to inspect the production stages, the Prime Minister listened to an explanation from company officials about the factory, who pointed out that it is located on an area of 270,500 square meters, within the scope of the industrial developer "Teda - Egypt" within the Sokhna Industrial Zone affiliated with the Suez Canal Economic Zone. The project investments amount to approximately $150 million, and it provides 700 direct job opportunities, in addition to 220 indirect job opportunities. Its annual production capacity is 250,000 tons of ductile pipes.
The Prime Minister and his entourage toured the factory and listened to a comprehensive explanation of the manufacturing process. He expressed his happiness at the opening of the factory's first phase and wished the company success in the coming phases. He assured the company officials of the government's continued support and confidence in these serious investments.
