Egypt pens $220M land usufruct deal for Atom Solar project in SCZONE
Updated 8/28/2025 4:24:00 AM
Arab Finance: Prime Minister Mostafa Madbouly witnessed the signing of a land usufruct contract for the Atom Solar Egypt project, an industrial complex for the production of solar cells, panels, and energy storage systems in the Sokhna Industrial Zone of the Suez Canal Economic Zone (SCZONE), as per a statement.
The project, valued at $220 million, spans 200,000 square meters and is being developed through an Egyptian-Emirati-Bahraini-Chinese partnership.
It will include factories to produce solar cells with a capacity of 2 gigawatts, solar panels with a capacity of 2 gigawatts, and energy storage systems with a capacity of 1 gigawatt-hour.
Implementation will take place over three years, covering construction, pilot operations, and full-scale production.
Once completed, the project is expected to generate 841 direct jobs.
Production from the solar cell factory will be fully exported to global markets, while output from the solar panel plant will serve both domestic needs and regional markets in the Middle East and Africa.
The project also aims to gradually raise the share of local inputs by sourcing Egyptian aluminum and glass.
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