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Egypt and China Sign USD 1.1 Bn Deals with Emphasis on Green Energy Projects

Egypt and China have signed agreements worth over USD 1.1 billion, emphasising renewable energy projects including green chemical plants and solar cell factories, while also boosting other industrial investments.

September 09, 2024. By EI News Network

Egypt and China have signed agreements totaling over USD 1.1 billion, primarily focussing on renewable energy and industrial projects. The deals were signed during the three-day Forum on China-Africa Cooperation held in Beijing.

Among the major agreements, Befar Group, a chemicals manufacturer, is set to establish Egypt’s first green chemical plant with a USD 500 million investment. This facility will utilise wind and solar energy, along with electricity and natural gas, to produce chlor-alkali products, marking a significant step towards sustainable chemical manufacturing.

Elite Solar will invest USD100 million to build a state-of-the-art factory for N-type solar cells with a total capacity of 2 GW. This new facility aims to create 600 jobs and will play a pivotal role in expanding Egypt's photovoltaic energy sector, while also attracting related industrial clusters.

In addition, China Glass Holding will construct a USD 300 million glass factory in Egypt, which will produce float glass and super-white galvanised glass with a daily output of 800 tons. This factory is expected to serve local markets and export to North Africa, the Middle East, and Europe, potentially generating up to USD 120 million in annual export revenues.

Further, Shandong Tianyi Chemical is investing USD 110 million in a bromine extraction complex that will use seawater desalination byproducts for bromine extraction. Kaks Investment will establish a USD 50 million support hub for the home appliance supply chain, encompassing component manufacturing and various support services.

Furthermore, Dahui Glucose and Tiba Starch will jointly invest USD 7.5 million in a modified starch production facility. This plant will initially produce 20,000 tons annually, with plans to scale up to 50,000 tons, catering to demand in Egypt, the Middle East, and East Africa.

China Energy, which currently manages 12 projects in Egypt worth USD 2 billion, has pledged to expedite the development of factories and production centers for renewable energy technologies, including green hydrogen and ammonia projects. The company also plans to relocate its North African headquarters to Egypt, further strengthening economic and renewable energy collaborations between the two countries.

Additionally, several agreements were signed to bolster cooperation and investment in the ICT sector, enhancing the strategic partnership between China and Egypt.

Tags:

China Africa Cooperation

sustainable chemical manufacturing

Egypt’s first green chemical plant