Chairman of the Suez Canal Economic Zone (SCZONE) Walid Gamal Eddin asserted that the Egyptian government offers major facilitations to support automotive industry locally.
He noted that the SCZONE will offer all needed support by offering all needed data to boost companies’ investments.
This came in a statement by the SCZONE on Wednesday following a meeting between Gamal Eddin and representatives of a number of Chinese companies operating in the car industry domain on the sidelines of the Forum on China-Africa Co-operation which is held in Beijing from September 4-6.
Gamal Eddin had talks with representatives of Great Wall Motors GWM on means of promoting cooperation to localize the car industry and accelerate its development.
He reviewed the economic potentials of the Suez Canal and the competitive advantages at the regional and international level as well as its role as a trade and investment gate for Africa and its strategic location.
He referred to the depth of strategic co-operation between the SCZ
ONE and China whose investments hit 40% of the zone’s total investments.
Meanwhile, GWM officials accompanied the SCZONE delegation on a field tour inside the company’s factories and the RandD center, to learn more about the company’s success stories.
‘Great Wall Motors has an annual production capacity of 1.5 million units that are exported worldwide. The company has plans to develop and expand in the automotive industry. It has also started manufacturing and assembling electric vehicles, and is developing green-fuel trucks,’ GWM officials said.
SCZONE Chairman met with Rushan Wei, President of China National Building Materials ‘CNBM’ Co. Ltd. and Vice President of CNBM Group ‘Jushi China Investment’, at the Group’s headquarters in Beijing.
In this context, the SCZONE Chairman stated ‘SCZONE looks forward to strengthening the partnership with Chinese investments and taking it to broader horizons. We are discussing ways to expand CNBM’s business within SCZONE in the upcoming phase.’
‘We are very excited
to start a new chapter of cooperation with SCZONE, especially after the previous successes CNBM Group ‘Jushi’ achieved in partnership with SCZONE. We also appreciate the continuous support SCZONE management provides at all levels. The company, in cooperation with SCZONE, is studying the establishment of a specialized industrial zone in Sokhna in an area of about 5 million square meters. The area under study represents the first specialized industrial complex that accommodates the industries that the company intends to expand outside China, especially the renewable energy industry such as (the manufacture of high-rise towers, wind turbine blades to generate electricity, and the manufacture of solar energy systems and mirrors), which is one of the applications of the fibreglass industry, and it is one of the Green Hydrogen feeding and complementary industries. The company also aims to expand the coverage of the roofs of factories within SCZONE with solar panels.’ CNBM Co. Ltd President stated.
Source: State I
nformation Service Egypt