Prime Minister Mostafa Madbouly witnessed the signing of a contract for the establishment of an integrated industrial complex for solar energy supplies in the Ain Sokhna industrial zone, within the Suez Canal Economic Zone (SCZone), as per a statement.
The project will be developed by Chinese company Sunrev Solar with total investments of $200 million, and is among the largest industrial investments in renewable energy components within the zone.
Spanning 200,000 square meters, the project will be executed in two phases. The first phase involves the construction of integrated factories with a production capacity of 2 gigawatts of solar cells and 2 gigawatts of solar modules, with investments of $90 million.
The second phase, valued at $110 million, will focus on localizing the production of key raw materials such as silicon ingots and wafers, completing the full solar energy supply chain from raw material to finished product.
Madbouly emphasized the strategic importance of the SCZone in attracting investments across various sectors, particularly in renewable energy.
He noted ongoing efforts to localize manufacturing of new and renewable energy components, backed by strong government support and incentives.
Chairman of the SCZone Waleid Gamal El-Dien stated that the project is expected to generate more than 1,800 direct jobs across both phases. It will contribute significantly to Egypt’s export capacity, with anticipated annual revenues of up to $300 million.
He added that the foundation stone will be laid on June 19th, with the first phase scheduled to begin operations in the first half (H1) of 2026.
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