April 1, 2019
Admiral Mohab Mameesh, chairman of the Suez Canal Authority and Suez Canal economic zone, in the presence of Major General Mohamed Shaban, Vice President of the South Sector, attended the signing ceremony for the second phase of TEDAs expansion zone. The expansion zone is between the main Economic Zone Development Company Northwest the Gulf of Suez, represented by Engineer Nasser AlRifai, and China-Egypt TEDA, represented by Leo A.I. chairman of the Board of Directors of TEDA Egypt.
The signing is part of developing and upgrading an area of 7.34 km 2 of land allocated to it. The project is a golden meeting point between the development strategy of the Suez Canal region and the Belt and Road Initiative.
Admiral Mohab Mameesh said that the submission of the second phase of TEDA is evidence of the company’s commitment to investors and the success of the Chinese developer TEDA as one of the most important companies and the largest foreign developer in the southern region.
Mameesh confirmed his confidence in the Chinese investors in the development of this region and the new phase, which will connect the facilities and communications networks and processing of roads. This will qualify it for new investments and add to the economic zone.
The TEDA Suez area for economic and trade cooperation between China and Egypt is the second economic and trade zone established with the approval of the Chinese government. It started jointly with the Chinese and Egyptian governments under the supervision of the Ministry of Commerce and promotion of the Tianjin Government. The TEDA cooperation area is divided into two stages, the first phase is 1.34 km2 and the expansion phase is 6 km 2.
TEDA is the main developer of the Economic Zone, it is a joint stock company that owns 51% of the Suez Canal Economic Zone. Its main role is to plan, design, finance, establish, manage, operate and maintain facilities and infrastructure within the economic zone and provide all services to industrial developers and investors.
TEDA Egypt for the development of the Economic Zone has received the first phase of the expansion zone with an area of 2 million square meters at the end of 2015. During the visit of the Chinese president to Egypt, the two presidents unveiled the model of the expansion zone. Since then the company has started the work on the infrastructure in January 2016, it was completed in early 2017 with a total investment cost of over 55 million dollars for the first phase only. The work to attract investments was also successful in attracting major projects such as:
1. Dayun Egypt Motor Company, where its factory is located on an area of 200 thousand square meters with a total investment of 30 million dollars. The company works in the field of manufacturing motorcycles and assembling heavy transport vehicles.
2. The Sokhna Logistics Company, a logistics area of 260,000 square meters, with a total investment of 600 million Egyptian pounds. The purpose of the project is to establish a logistic area for the trade of cars, storage, import, export and re-export of light and heavy transport of all kinds, agricultural equipment and spare parts. The project will provide 3250 direct and indirect job opportunities.
3. Gold Time Plastic Company, its factory is located on an area of 40 thousand square meters with a total investment of 15 million dollars. The company works in the production and manufacture of plastic granules.
4. Le Chou Egypt Textile, dyeing and printing company, with a factory area of 57,000 square meters and a total investment of 30 million dollars. The company works in printing and dyeing all types of home textile fabrics, clothing fabrics and other textiles.
5. Taishan Gypsum Company, its factory is located on an area of 132 thousand square meters with total investments of 100 million dollars, and works in the production of gypsum boards.
6. Yan Jiang Egypt for Non-Woven Products, the factory is located on an area of 133 thousand square meters with total investments of 36 million dollars. The company works in the production of hygiene and sanitation supplies and their products.
7. Patron Egypt for Modern Materials Company, its factory is located on an area of 50 thousand square meters with a total investment of 55 million US dollars. The company works in the manufacture and sale of PVB films and plastic products and granules.
8. Tiancheng Company for Renewable Resources, with a factory area of 50 thousand square meters and a total investment of 18 million dollars. The company works in recycling and producing renewable resources and the production of plastic and rubber products.