China's WINPEX Group signed a $15 million agreement on Wednesday to build a lighting and electrical equipment factory in Egypt's Suez Canal Economic Zone (SCZONE), the zone's authority said in a statement. The project, located within the Main Development Company (MDC) industrial area in Ain Sokhna, will produce solar-powered lamps, LED units, electronic devices, and plastic components for export. The facility will cover 50,000 square metres and is expected to create 500 direct jobs. Chairman Waleid Gamal El-Dein said the SCZONE is increasingly becoming "a prime destination for investment," citing its ready infrastructure, integrated industrial-port ecosystem, skilled workforce and access to competitively priced renewable energy. He added that the zone's location on the Red Sea and Mediterranean, combined with extensive free trade agreements, gives manufacturers a gateway to global markets. He said the authority is pushing to localise industry and advance technology transfer in line with Egypt's Vision 2030, adding that rising Chinese investment in the zone reflects the strength of bilateral ties and the depth of the strategic partnership. Attribution: Amwal Al Ghad English
