Arab Finance: Prime Minister Mostafa Madbouly met with Cui Hongsong, chairman of Henan Zhengfu, a subsidiary of Henan Aulian Energy Group, to review plans for a $2 billion aluminum manufacturing complex in East Port Said, as per a statement.
The project will span more than one million square meters and is expected to create around 3,000 direct jobs, supporting employment efforts, particularly for residents of Sinai and the Suez Canal cities. It is also projected to generate significant returns through sales and exports.
Madbouly said the government is ready to provide full support for the project, highlighting its importance as part of Egypt’s focus on expanding the industrial sector and localizing strategic industries.
The Suez Canal Economic Zone's (SCZONE) Chairman Walid Gamal El-Din said the project would be the first of its kind in East Port Said and would strengthen the Suez Canal Economic Zone’s position as a hub for heavy and strategic industries. He added that the investment would support localizing high-value aluminum manufacturing, meet domestic demand, and contribute to integrating Egypt into global supply chains.
The project is expected to help bridge gaps in local aluminum production, increase exports, and enhance the competitiveness of Egyptian industry in regional and international markets, including Africa, the Middle East, and Europe, while facilitating the transfer of technical expertise.
For his part, Hongsong said the project reflects the company’s confidence in Egypt’s investment environment and its strategic location, noting that the group exports to more than 130 customers across 45 countries and regions. Its products include aluminum foil for beverage packaging, battery applications, and aluminum sheets for automotive, aviation, and rail industries.
He added that the company aims to establish a fully integrated aluminum complex in Egypt using advanced technologies, marking a step toward expanding its global industrial footprint.
Madbouly reiterated the government’s support for the project at the conclusion of the meeting, emphasizing the importance of developing this industry locally.
