Egypt's Suez Canal Economic Zone (SCZONE) signed Thursday an $85 million investment deal with China's Jiangsu Zhengyong Flooring Decoration Material Co Ltd. to establish a new factory in the Sokhna Industrial Zone. The factory, which will cover 181,000 square metres, will produce PVC flooring and wall panels made from recycled materials. With an annual output capacity of 27 million square metres, the facility plans to export 90 per cent of its products globally, while the remaining 10 per cent will cater to the local Egyptian market. The project is expected to generate about 500 direct jobs. SCZONE Chairman Waleid Gamal El-Dien highlighted that the deal represents a significant boost for Egypt's manufacturing sector and its export ambitions. "The Sokhna Industrial Zone offers unmatched advantages with its strategic location and state-of-the-art infrastructure, making it an ideal hub for high-value industries," he said. Jiangsu Zhengyong, a leading global producer of PVC, WPC, and SPC flooring, is expanding its footprint into Egypt as part of a broader strategy to strengthen its presence in international markets. The new factory will help solidify Egypt's role in the global supply chain, particularly in the growing demand for high-quality flooring products. The deal follows a promotional mission by the SCZone to China in July 2025, where the agency met with Jiangsu Zhengyong at a forum in Nanjing. The partnership underscores Egypt's ongoing efforts to attract foreign direct investment, particularly in manufacturing sectors that contribute to sustainable growth and job creation. Gamal El-Dien emphasised that the new project aligns with Egypt's industrial strategy to deepen domestic manufacturing, increase exports, and integrate more effectively into regional and global markets. The facility is seen as a key part of Egypt's Vision 2030 economic goals, which focus on diversifying the economy and fostering innovation in high-value industries. Attribution: Amwal Al Ghad English
