The agreement includes adding 21,000 square meters to Hengtong’s factory in the Sokhna Industrial Zone, according to a cabinet statement.
The new extension’s output will supply cables to Egyptian national projects such as the Decent Life Initiative, as well as the state-owned telecommunication giant, Telecom Egypt.
The first phase of Hengtong’s factory in the SCZONE was opened in March 2023 with $6 million in investments.
On Tuesday, the SCZONE signed a letter of intent (LOI) and three framework agreements with Chinese companies for industrial projects with $2.75 billion in investments.
The zone also inked energy agreements worth up to $14.75 billion with Chinese partners.
The recent agreements were signed during Prime Minister Mostafa Madbouly's visit to China to attend the third Belt and Road Forum for International Cooperation.