Egypt's Prime Minister Moustafa Madbouly has witnessed the signing of a land usufruct agreement for the construction of the $220-million (around EGP 11b) "Atom Solar Egypt" industrial complex, a joint venture involving Egyptian, Emirati, Bahraini and Chinese partners. The complex, to be developed within TEDA Egypt's scope in the Sokhna Industrial Zone, under the Suez Canal Economic Zone (SCZONE), will span 200,000 square metres. It will include a 2GW solar cell plant, a 2GW solar panel manufcturing facility, and a 1GWh factory for energy storage systems. The contract was signed by representatives of TEDA Egypt, UAE's Global South Utilities (GSU), Egypt's AH Industrial Management, and Atom Solar Egypt founder Ahmed Abou Hashima. The project will be implemented over three years and is expected to create 841 direct jobs. All solar cell output will be exported to meet rising global demand, while the solar module plant will supply Egypt's domestic market and regional markets in the Middle East and Africa. The project also aims to boost local content by using Egyptian-made inputs such as aluminium and glass. The partnership brings together China's JA Solar as technical investor, alongside Egypt's AH Industrial Management, UAE's GSU, and Bahrain's Infinity Capital. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
