Arab Finance: The Suez Canal Economic Zone (SCZONE) inked a contract with China National Chemical Engineering Company (CNCEC) to develop $34 million production lines for the Soda Ash project, according to a statement.
Spanning 100,000 square meters in the Sokhna Industrial Zone, the project will set up facilities, production lines, equipment, and pipes used in establishing Soda Ash’s plants.
It will manufacture the main products for steel structures, finished pipe products from carbon steel and stainless steel, and non-standard equipment. The annual production capacity is 20,000 tons for steel structures and 400,000 diagonal inches of pipes.
This contract marks the first of two integrated projects, with the second expected to be established this year at Sokhna Port in two phases, with projected investments of $250 million.
The second project will cover a total area of 200,000 square meters, with an expandable quay extending over 350 to 400 meters. It targets to produce carbon steel, low-alloy steel, stainless steel, composite sheets, and different kinds of containers.
The two projects integrate logistically to facilitate the transport and entry of components and products to and from the manufacturing facilities.