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Egypt on Tuesday signed contracts to establish three major industrial projects in the Sokhna Industrial Area under the Suez Canal Economic Zone Authority, with total investments of about $1.15 billion and an expected 5,400 jobs.
The signing was attended by Egyptian Prime Minister Mostafa Madbouly at government headquarters in Egypt’s New Administrative Capital.
The agreements were signed between TEDA-Egypt and three companies: China’s Xin Feng Ming Group, Chaoyang Langma Tire, and Tongling Jieya Biotechnology, with total investments of about $1.15 billion and an expected 5,400 jobs.
Madbouly said the three deals show rising global confidence in Egypt’s investment climate and the Suez Canal Economic Zone’s infrastructure and port-linked logistics, supporting local manufacturing, exports and job creation.
Walid Gamal El-Din, head of the Suez Canal Economic Zone Authority, said the first of the three contracts was signed by Cao Hui, executive director of TEDA-Egypt, and Li Xiaobin, a representative of China’s Xin Feng Ming Group.
The agreement covers the establishment of an integrated industrial complex for polyester fiber and polymer production, with investments exceeding $800 million.
Gamal El-Din said the project will be built on about 400,000 square meters and developed in three phases, with total production capacity of up to 1.08 million tons per year and around 3,000 direct jobs.
He said construction of the first phase is due to begin in May 2026, with operations and production expected in the fourth quarter of 2027. The second phase is set to start in 2028 and come online in 2029, followed by a third phase starting in 2029 and scheduled to begin operating in 2030.
He said the first and second phases will produce polyester yarn, POY and DTY, with annual output exceeding 360,000 tons and expected sales of about $455 million a year, creating nearly 1,000 direct jobs.
He added the third phase aims to complete industrial integration and raise overall capacity, helping narrow gaps in inputs for Egypt’s textile and spinning industry, particularly in upstream production, with about 50% of output targeted for export.
Walid Gamal El-Din said the second contract covers the establishment of an integrated industrial complex to produce heavy-duty truck tires and passenger car tires, with expected investments of $190 million.
He said the project will be built on 200,000 square meters and is expected to create about 1,400 direct jobs. The complex will be implemented in two phases: the first is set to begin in April 2026, followed by a second phase starting in September 2028 and running for 12 months.
Once fully operational, the project aims to produce 1 million heavy-duty truck tires and 4.5 million passenger car tires annually, supporting export capacity.
Gamal El-Din said the third contract covers the establishment of an industrial complex to manufacture hygiene products with Tongling Jieya Biotechnology, with expected investments of $160 million.
He said the project will be built on 160,000 square meters and is expected to create about 1,000 direct jobs. The company is targeting annual production of 10 billion wet wipes, 2 billion baby diapers and 100,000 tons of nonwoven fabrics, with projected annual revenues of about $270 million at full capacity.
Gamal El-Din said the projects reflect the industrial diversity within the Suez Canal Economic Zone, adding that the zone is pressing ahead with its vision to build an advanced industrial base, deepen local manufacturing and strengthen integration with global value chains.
He said the signing of the three projects brings total investments attracted by the zone in the first half of fiscal year 2025-26 to about $5.1 billion, up from $4.6 billion in fiscal year 2024-25.
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