Chinese ductile iron pipes and pipe castings manufacturer, Xingxing Ductile Iron Pipe Company is planning to invest approximately USD 2 billion to establish production plants for cast iron pipes and steel products in Egypt’s Suez Canal Economic Zone (SCZONE). The cast iron production facility will be built during Phase 1 at a total investment of USD 150 million and the steel products plant would be built during Phase 2 at a total investment of about USD 1.8 billion. With a total annual production value worth USD 2.6 billion, the project is expected to create 2,100 jobs.
China-based Xinxing Ductile Iron Pipe Company intends to invest nearly USD 2 billion in Egypt’s Suez Canal Economic Zone (SCZONE), for establishing a cast iron pipes and steel products production plant. According to the press statement issued by SCZONE and Egyptian Cabinet, the plant will be built over an area of 1.7 million square metres in China-Egypt TEDA Suez Economic and Trade Cooperation Zone, located within SCZONE in Ain Sokhna. With an annual production value worth USD 2.6 billion, the project is expected to create 2,100 jobs.
During Phase 1, the cast iron production facility will be built over an area of 250,000 sqm with annual production capacity of 250,000 tonnes, at a total investment of USD 150 million.This facility will reportedly have a production value of about USD 1.2 billion per year and employ 616 workers. The steel products plant would be built during Phase 2 at a total investment of about USD 1.8 billion. The export based project will be spread over an area of 1.45 million sqm, have a production capacity of 2 million tonnes annually, employ 1,500 people and have an annual production value of about USD 1.4 billion.
