Egypt signed an agreement on Wednesday to establish an integrated industrial complex for solar energy component manufacturing in the Suez Canal Economic Zone (SCZONE), with total investments estimated at $200 million. The project will be implemented by Chinese company SunRise Solar.

Key Project Details:

• Location: 200,000 sqm industrial area within SCZONE

• Investment: $200 million (Phase 1: $90 million, Phase 2: $110 million)

• Developer: China's SunRise Solar

• Groundbreaking: Thursday [date]

• Phase 1 Operational: First half of 2026

• Expected Jobs: 1,800 direct employment opportunities

• Projected Annual Exports: $300 million

Official Statements:
Prime Minister Dr. Mostafa Madbouly emphasized the government's focus on localizing renewable energy component manufacturing, stating: "The new and renewable energy sector receives significant attention as we work to localize production of various components for renewable energy projects."

SCZONE Chairman Waleid Gamal El-Din described this as "one of the largest industrial investments in renewable energy components within the economic zone," noting its strategic importance for regional and international markets.

Signing Ceremony Attendees:

• Cao Hui, Managing Director of TEDA

• Qi Fei, Managing Director of SunRise Solar

• Prime Minister Dr. Mostafa Madbouly

• Minister of Industry and Transport Kamel El-Wazir

• SCZONE Chairman Waleid Gamal El-Din