CAIRO - 26 June 2024: The Suez Canal Economic Zone (SCZone) has been signed a framework agreement to establish the Green Marine chemical project for the Chinese BEFAR group in the TEDA Egypt region in Sokhna. The project involves investments totaling $250 million, according to a statement from the SCZone.
The Green Marine chemical project consists of three phases. In the first phase, which covers an area of 300,000 square meters, the project is expected to generate an annual revenue of $230 million.
It will create 795 job opportunities and focus on producing 100,000 tons of caustic soda, 50,000 tons of hydrochloric acid, 40,000 tons of textile industry chemicals, and extract 10,000 tons of bromine ore.
The second phase aims to expand production capabilities by focusing on chlorine, polyether, and polyurethane products.
This expansion is intended to meet the local demands of industries such as automotive and building materials. Furthermore, this phase will contribute to the development of soda ash products required for the manufacturing of high-quality glass and other related needs.
The third phase of the project will concentrate on utilizing local C2-C5 resources to develop advanced technologies for producing new chemicals.
Chairman of the SCZone, Walid Gamal El-Din, stated that the Chinese investments in partnership with SCZone represent 40 percent of the total investments in the region.
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