Chinese household appliances manufacturer Vanward broke ground for its water heater manufacturing plant in Egypt’s Suez Canal Economic Zone (SCZONE).

The plant, which is being built at an investment of $12 million in TEDA-Egypt industrial park within the Sokhna industrial zone, is spread over an area of 26,000 square metres (sqm), SCZONE said in a press statement.

The construction work for the plant will be completed within nine months, the statement said, adding that it will create 300 job opportunities, 90 percent of which will be for Egyptian workers.

The plant will produce 2 million sets of water heater parts and 500,000 water heaters annually.

SCZONE’s promotional visit to China during the period from 15 to 18 October 2023 witnessed agreements covering 11 projects, with an investment volume of $15.6 billion, planned to be built over an area of 4.9 million sqm, and create about 9,000 job opportunities.

(Writing by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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