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A Chinese company Vanward, specialized in the manufacturing of household appliances and heat exchangers plans to establish a factory within the Sokhna industrial zone envisaging an investment of USD 12 million. The project will be a joint venture between the Chinese company and the industrial developer TEDA-Egypt
A Chinese company Vanward, specialized in the manufacturing of household appliances and heat exchangers plans to establish a factory within the Sokhna industrial zone envisaging an investment of USD 12 million. The project will be a joint venture between the Chinese company and the industrial developer TEDA-Egypt.
The factory will come in an area of 26,000 square meters and is expected to create approximately 300 job opportunities. Notably, 90 percent of these positions will be reserved for Egyptian workers, contributing to local employment and economic growth. The construction work for the project will be completed within 9 months.
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A ceremony marked the inauguration of the foundation stone, attended by the President of Vanward Company, Yeung Chungman, General Manager of TEDA Development Company, Li Daixin, and Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE), Walid Gamal El-Din. El Din expressed his satisfaction with the successful partnership between SCZONE and Chinese investors, citing the promotional tours undertaken by SCZONE in October 2023, with an investment volume of USD 15.6 billion.
