China’s Xinxing Ductile Iron Pipe Company laid the foundation stone for its $146 million cast iron pipes factory in Egypt’s Suez Canal Economic Zone (SCZONE) on Tuesday.

The plant, spread over an area of 270,000 square metres, will produce high-pressure flexible cast pipes (from 100 mm to 1000 mm) with a capacity of 250,000 tonnes per annum.

The project is expected to provide 714 direct job opportunities, the statement said.

Waleid Gamal El-Dien, Chairman of SCZONE, Zhao Linqing, Commercial Attaché of the Embassy of China in Cairo, Wei Jianqing, Executive General Manager of TEDA China Africa, and Ye Maolin, President of Xinxing Ductile Iron Pipe Company attended the ceremony.

The usufruct agreement for the project area located within the TEDA-Suez was signed in March 2024.

Zhao Linqing, Commercial Attaché of the Chinese Embassy in Cairo said Egypt has achieved great success in attracting Chinese investments in accordance with the Belt and Road strategy. He said the completion of the project will give the confidence to more Chinese companies to invest within SCZONE.

The statement noted that TEDA-Egypt is host to 60 Chinese companies representing a total investment of more than $2 billion and 50,000 job opportunities.

Read more: China’s Xinxing proposes $2bln cast iron and steel production project in Egypt

(Writing by Eman Hamed; Editing by Anoop Menon)


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