Egypt and China plan $2 billion aluminum plant in Suez Canal Economic Zone

Egyptian Prime Minister Mostafa Madbouly met with Chi Hongsong, Chairman of the Chinese Henan Zhongfu Industrial Co Ltd, to discuss plans for a $2 billion aluminum plant in East Port Said, within the Suez Canal Economic Zone. The project is expected to create approximately 3,000 direct jobs and generate significant economic returns through sales and exports, aligning with the government's efforts to boost employment, especially for residents of Sinai and Suez Canal cities. Deputy Prime Minister for Economic Affairs Hussein Eissa and Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone, also attended the meeting. Madbouly reaffirmed the government's commitment to supporting the project, emphasizing the industrial sector's strategic importance. Eissa highlighted the project's role in supplying aluminum products to various industries and suggested potential cooperation with Egypt Aluminum Company. Gamal El-Din noted that the plant, spanning up to one million square meters, would be the first of its kind in East Port Said, strengthening the zone's position as a global industrial and logistics hub. He added that it would localize high-value aluminum industries, meet domestic demand, and enhance Egypt's competitiveness in regional and global markets, including Africa, the Middle East, and Europe. Chi Hongsong expressed appreciation for the cooperation, praising Egypt's investment climate and the strong relations between the two countries. He detail