Rédaction Africa Links 24 with MENA
Published on 2024-03-28 10:10:47
Prime Minister Mostafa Madbouly recently participated in the signing ceremony of a framework agreement between the Suez Canal Economic Zone (SCZONE) and Saint-Gobain Glass Egypt. This agreement will establish a flat glass production plant in Ain Sokhna, marking a significant milestone in the efforts to boost investments and achieve sustainable development in the region.
The SCZONE, known for its role as a prominent economic hub, played a crucial role in facilitating this agreement, which not only solidifies the partnership between the two entities but also paves the way for future cooperation in various sectors.
The planned flat glass production plant will be located within the Ain Al-Sokhna Industrial Zone, situated northwest of the Gulf of Suez. Spanning an area of 200,000 square meters, the plant will attract foreign direct investments exceeding 160 million euros, demonstrating a strong commitment to economic growth and job creation in the area.
One of the key objectives of this project is to leverage Ain Sokhna’s strategic location and logistical advantages to produce high-quality flat glass that meets international standards. The plant is expected to export more than 50 percent of its production to global markets, positioning Egypt as a key player in the glass manufacturing industry.
The establishment of this flat glass production plant signals a significant investment in the region’s industrial infrastructure, with the potential to create new job opportunities and stimulate economic growth. By leveraging the SCZONE’s business-friendly environment and strategic partnerships, the project aims to drive innovation and competitiveness in the glass manufacturing sector.
Prime Minister Mostafa Madbouly’s presence at the signing ceremony underscores the government’s commitment to supporting investments and promoting sustainable development in Egypt. Through strategic partnerships and infrastructure development initiatives, the government is working to attract foreign investments, boost exports, and create a conducive environment for business growth.
Overall, the framework agreement between the SCZONE and Saint-Gobain Glass Egypt represents a step towards strengthening Egypt’s industrial sector and enhancing its position in the global market. By harnessing the region’s resources and leveraging strategic partnerships, the project aims to drive economic growth, create job opportunities, and foster innovation in the glass manufacturing industry.
Read Original article on Egypt Independent
