RIYADH: Egypt’s Suez Canal Economic Zone is set to host three new industrial projects with a combined investment of $1.15 billion, bringing total investments in the zone to $5.1 billion in the first half of the 2025/26 fiscal year.
The contracts, expected to generate around 5,400 direct job opportunities, expand the footprint of industrial developer TEDA-Egypt in the Ain Sokhna Industrial Zone. The agreements were signed between TEDA-Egypt and China’s Xin Feng Ming Group, Chaoyang Langma Tyre, and Tongling Jieya Biotechnology, according to an official statement issued by the Egyptian Cabinet Presidency.
This aligns with SCZONE’s earlier forecast that revenue will exceed $4 billion this year, slightly above 2024 levels, with gradual growth expected from the next fiscal year.
The Suez Canal generated about $40 billion between 2019 and 2024 and remains Egypt’s largest source of foreign currency.
A Facebook post on the official Egyptian Cabinet Presidency page stated: “Prime Minister Mostafa Madbouly emphasized that the signing of these three projects reflects the growing confidence of major international companies in Egypt’s investment climate and underscores the advanced infrastructure offered by the SCZONE, as well as its logistical integration through the connection between industrial zones and ports.”
It added: “This supports the Egyptian state’s strategy to deepen local manufacturing, increase exports, and create more job opportunities.”
The largest project, led by Xin Feng Ming, involves the construction of an integrated polyester fiber and polymer complex with investments exceeding $800 million, according to SCZONE Chairman Walid Gamal El-Din.
The facility will be built over about 400,000 sq. meters and developed in three phases, with a combined annual production capacity of 1.08 million tonnes. It is expected to create around 3,000 jobs.
Gamal El-Din further pointed out that construction of the first phase is scheduled to begin in May 2026, with production expected to start in the fourth quarter of 2027. The second and third phases are set to come online between 2029 and 2030.
A second project with Chaoyang Langma will establish a $190 million tyre manufacturing complex producing heavy-duty truck and passenger car tyres. The facility will span 200,000 sq. meters and employ about 1,400 workers.
Once fully operational, it is expected to produce one million truck tyres and 4.5 million passenger car tyres annually, targeting both regional and international markets.
Gamal El-Din said the project will be implemented in two phases, starting with construction and the installation of a heavy truck tire production line in April 2026.
A second phase, beginning in September 2028 and lasting 12 months, will expand the heavy-duty truck line and add a passenger car tire line, including trial runs for both.
The third project, led by Tongling Jieya Biotechnology, will involve a $160 million investment in a health products and nonwoven fabrics complex covering 160,000 sq. meters.
The facility is expected to produce up to 10 billion wet wipes, 2 billion baby diapers and 100,000 tonnes of nonwoven fabrics a year, generating about $270 million in annual revenue at full capacity and employing around 1,000 people.
