A Chinese company is preparing to establish a new project for the production of cast iron pipes and steel manufacturing with investments of $2 billion in the Chinese Teda area of Ain Sokhna, located within the economic zone of the Suez Canal in Egypt. The project is expected to create over 2,100 job opportunities.
He Keguo, the Chairman of Shin Xing Company, presented the project for producing ductile iron pipes and steel, stating that the company plans to invest $2 billion in Egypt for the construction of a ductile iron pipe and steel manufacturing project covering a total area of 1.7 million square meters, with an expected annual production value of approximately $2.6 billion. The project will provide over 2,100 job opportunities.
During a meeting with Egyptian Prime Minister Mostafa Madbouly, He Keguo explained that the first phase includes producing cast iron pipes, with an investment of about $150 million, to be built on an area of 250,000 square meters, with an annual production capacity of 250,000 tons and an annual production value of approximately $1.2 billion, employing 616 individuals. The second phase will focus on steel production, designated for export, with investments of about $1.8 billion on an area of 1.45 million square meters, with an annual production capacity of 2 million tons and an annual production value of approximately $1.4 billion, employing 1,500 individuals.
He noted that by completing both phases, Egypt will become a key center for the production of cast iron pipes and could export to neighboring markets. He emphasized that the project will help bridge the gap in the iron pipe industry in Egypt and Africa, enhance the development of local Egyptian pipe products, address supply and demand gaps in the cast iron pipe market, and transfer technical expertise in this important field.
Additionally, he stated that this project will rapidly improve the production and manufacturing levels of Egyptian cast iron pipes and foster the development of seven supporting industries such as special steel pipes, steel melting, and plumbing products in Egypt.
