The Zhongbo New Energy Glass Project has commenced in the TEDA Cooperation Zone.
Release time:
2024-12-07 09:07
Recently, the China-Egypt TEDA Suez Economic and Trade Cooperation Zone (hereinafter referred to as the "TEDA Cooperation Zone") welcomed the largest investment project of the year—the groundbreaking ceremony for the China Glass Holdings Limited Egypt New Energy Glass Project (hereinafter referred to as the "China Glass Egypt Project"). This marks the official construction phase of the first glass production plant by a Chinese company in Egypt and signifies the preliminary formation of the solar photovoltaic industry cluster in the TEDA Cooperation Zone. Attendees included Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone Authority, Su Dongxu, Counsellor of the Political Office of the Chinese Embassy in Egypt, Cai Guo, Vice President of China Glass Holdings Limited, Li Daixin, Chairman of China-Africa TEDA Investment Co., Ltd., Wei Dong, Vice President of the China-Egypt Chamber of Commerce, Cao Hui, Executive Director of the Egypt TEDA Special Zone Development Company, and Xu Qifeng, Executive Director of the Egypt TEDA Investment Company.
China Glass Holdings Limited is a leading manufacturer of flat glass and coated glass in China, with 12 production bases and 1 R&D center both domestically and internationally, employing nearly 5,000 people. The total investment in the Egypt project is approximately $300 million, covering an area of about 500,000 square meters. It will establish a 1,000 tons/day float glass production line and an 800 tons/day ultra-white rolled photovoltaic glass production line, with products widely used in construction, automotive, home appliances, and new energy sectors, radiating to international markets in North Africa, the Middle East, and the European Union. Once fully operational, the annual sales revenue will exceed $250 million and will create nearly a thousand local jobs.
Walid Gamal El-Din pointed out that the completion of the China Glass Egypt Project will help achieve Egypt's national renewable energy goals, effectively reduce Egypt's dependence on imported glass products, and increase foreign exchange income for Egypt, creating nearly a thousand local jobs. This is of significant importance for promoting the development of Egypt's domestic economy.
Cai Guo stated that the China Glass Egypt Project is the company's third overseas glass factory following Nigeria and Kazakhstan, which will further enhance the group's influence and competitiveness in the North Africa, Middle East, and even global markets. The company will take this groundbreaking ceremony as an opportunity to reasonably arrange the construction schedule, actively mobilize various resources, and fully promote the project construction.
Li Daixin expressed that 2024 marks the 10th anniversary of the comprehensive strategic partnership between Egypt and China. Under the personal guidance of the leaders of both countries, the development of the TEDA Cooperation Zone is changing rapidly, with 19 projects landing this year—among which the China Glass Egypt Project, which broke ground that day, is the largest in terms of area and investment scale. Once completed, this project will provide strong support for Egypt's infrastructure construction and new energy industry development. In the future, the TEDA Cooperation Zone will orderly aggregate advantageous production capacity through construction, development, and upgrading of the park, forming a scale effect in the manufacturing industry, and strive to build a matrix of overseas cooperation that complements advantages and achieves win-win outcomes, contributing new and greater strength to the construction of a community of shared future between China and Egypt, China and Arab countries, and China and Africa!
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