Egypt’s Madbouly inaugurates $153m industrial projects in Suez Canal Economic Zone

Egyptian Prime Minister Mostafa Madbouly inaugurated four major industrial projects on Sunday with total investments exceeding $153m, marking a significant expansion of manufacturing capacity in the Suez Canal Economic Zone (SCZONE).

The projects, which span the renewable energy, home appliance, textile, and food sectors, are located within the Sokhna industrial area. Madbouly stated during the tour that the openings reflect a “serious government trend” toward localising the production of home appliances and engineering components to reduce reliance on imports and boost local manufacturing.

The centrepiece of the visit was the inauguration of the Elite Solar technology complex, representing an investment of $116m. The complex, located within the TEDA-Egypt developer zone, comprises two distinct facilities. The “Elite Solar Suez Technology” plant, built with $40m in investment, produces solar cells and electronic boards with an annual capacity of 2 gigawatts (GW). The second facility, “Elite Solar Green Energy,” represents a $76m investment with a 3 GW annual capacity for solar panels.

Madbouly noted that the solar complex supports Egypt’s 2030 vision to become a regional hub for green energy